Alfredo T. is from the village of Brgy, which is in Bonfal Proper, Bayombong, Nueva Vizcaya. He is 33 years old. Alfredo is married and has two school-aged children. To make a living, Alfredo operates motorized tricycle transport services. Alfredo has been engaged in his business for over five years and earns approximately 7,000 PHP a month from these activities.
In 2008, Alfredo joined ASKI to gain access to financial services. He wanted to help improve his living situation and increase his ability to engage in business activities. Alfredo has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to repair an existing vehicle for better service. Alfredo is requesting a new loan in the anount of 7,000 PHP, which will be used to purchase a new transport unit. This loan will be the fourth loan taken out by Alfredo from ASKI. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.
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 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.