Romeo G. is from the village of Estefania, Anulung, Cagayan. He is 52 years old. Romeo is married and has eight adult-aged children. To make a living, Romeo owns and operates a business growing crops, specifically planting and harvesting corn for sale. Romeo has been in business for more than five years and earns approximately 37,000 PHP per harvest.
In 2006, Romeo joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Romeo has successfully repaid a previous loan of 25,000 PHP from ASKI. Romeo is requesting a new loan of 25,000 PHP, which will be used to purchase fertilizers such as manure. This loan will be the sixth loan taken out by Romeo from ASKI. He plans to use the additional revenue generated from the business to save as a reserve for future emergencies.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches covering the Central and Northeastern areas. Its clients are mostly of 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 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.