Jeffrey C. lives on Arellano St. in Tuguegarao City. He is 46 years old and married. To make a living, he owns and operates a restaurant, serving lunch foods to customers in the local community. Jeffrey has been engaged in his business for over twenty years and earns approximately $166 a month for these activities.
In 2010, Jeffrey joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. He is requesting a loan of 20,000 PHP which will be used to invest in expanding the business. This will be his 1st loan from ASKI. He plans to use the additional revenue generated to improve his business.
ASKI is one of the most successful micro-finance institutions in the Philippines. It has 38 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.