Antonio M. is from the village of Baculud, Iguig, Cagayan. He is forty-nine years old. Antonio is married and has six school-aged children. To make a living, Antonio owns and operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting and harvesting rice for sale. Antonio has been engaged in his business for over twelve years and earns approximately 10,000 PHP every harvest (every four months).
In 2007, Antonio joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Antonio successfully repaid a previous loan of 28,000 PHP from ASKI. Antonio is requesting a new loan of 33,000 PHP, which he will use to purchase fertilizers, such as manure. This will be Andres's sixth loan from ASKI. He plans to use the additional revenue generated from the business to improve and expand his business.
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-five branches covering the central and northeastern areas. Its clients are mostly farmers, fisherfolks, 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 Partners 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.