Amado M. is from the city of Balibago 1st, Tarlac. He is 56 years old. Amado is widowed and has four adult children. To make a living, Amado sells purified/mineral water in the local community. Amado has been engaged in his business for over four years and earns approximately $750 a month from this activity.
In 2008, Amado joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Amado has successfully repaid a previous loan of 50,000 PHP from ASKI. This previous loan was used to purchase a transport vehicle to help in the business. Amado is requesting a new loan of 50,000 PHP, which will be used to invest in expanding the business. This will be his 3rd loan from ASKI. He plans to use the additional revenue to further develop his business.
ASKI is one of the most successful micro-finance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolk and small entrepreneurs.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.