Felicidad C.'s main source of income comes from selling used clothing in her community. She is 47 years old, married and has three school-age children. They are from the village of Bagong Sikat, Alicia, Isabela. Felicidad has been in her business for over three years and earns approximately 3,500 Philippine pesos (PHP) a month.
In 2006, Felicidad joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Felicidad is requesting a new loan of 15,000 PHP which will be used to purchase additional inventory and for working capital. This will be her fourth loan from ASKI. She plans to use the additional revenue to improve and expand her business.
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 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.