Joan B. is from the town of Taggappan Echague. She is 34 years old. Joan is married and has one school-aged child. To make a living, Joan owns and operates a gown for rent business. While not the only means of generating revenue, the main source of income for the business comes primarily from providing rentals for gowns and barongs in the local community. Aside from that, she is also managing a catering business. Joan has been engaged in her businesses for over 14 years and earns approximately 10,000 PHP a month for these activities.
In 2010, Joan joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Joan is requesting a new loan of 30,000 PHP which will be used to purchase additional inventory and working capital. This loan will be the first loan taken out by Joan from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.
ASKI is one of the most successful microfinance 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.
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.