Catalina's loan from ASHI when she joined in 2008 was used to finance this business instead of borrowing money from other people in their neighborhood which requires bigger interest rates per month. This was what they had been doing in the past when Catalina was not yet a member of ASHI and had no access to loans. Profit then was not really big and growing a business was very hard.
Now that Catalina has fully paid her first loan, she is requesting a much bigger loan to be able to accelerate the quality of rice they are producing for a better price and profit. Since Catalina is still using rice land which she doesn't own, every harvest they are required to give the owner of the land a share of the rice depending how many sacks they have agreed on for every acre. Someday, through her profit and helped by loans from ASHI, Catalina wished to purchase her own rice land.
Ahon Sa Hirap, Inc. has the distinction of being the oldest existing replication of Grameen methodology for delivering credit to the poor in the Philippines. With more than a third of the nation’s 90 million Filipinos living below the poverty line, ASHI was established with the vision of helping to alleviate poverty in the Philippines. Translated from Tagalog, Ahon Sa Hirap means “to rise above poverty.”
Empowering women dedicated to supporting their families through hard work and dedication, ASHI lends 100% to women and specifically the bottom 50%, so the “poorest of the poor.” In addition to general business loans, ASHI also offers educational loans, house repair loans, savings funds, and social development programs for its members. ASHI is committed to translating its social mission into practice.
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Success!! The loan was 100% repaid