Thelma C. is from the village of Marabulig 1, Cauayan City, Isabela. She is 57 years old, married and has five adult children. To make a living, Thelma owns and operates a business venture in the retail sector selling home products. While not the only means for generating revenue, the main source of income for the business comes from selling door mats and bedding supplies to local community members. Thelma has been engaged in her business for over 10 years and earns approximately 10,000 PHP a month from these activities.
In 2006, Thelma joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She is requesting a new loan of 50,000 PHP which will be used to purchase additional inventory and working capital. This will be the eighth loan she has taken out from ASKI. She plans to use the additional revenue generated to improve/expand her business.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches covering the central and north-eastern 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.