Teresita G. is from the village of Dalig Viejo. She is 43 years old and married, with 5 school-aged children. To make a living, Teresita plants and harvests a variety of vegetables for sale. Teresita has been engaged in her business for more than 8 years and earns approximately 4000 PHP a month.
In 2008, Teresita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita has successfully repaid a previous loan of 15,000 PHP from ASKI. This previous loan was used to purchase fertilizer such as manure. Teresita is requesting a new loan of 12000 PHP, which will be used to pay for services to increase crop yield. This will be the sixth loan taken out by Teresita from ASKI. She plans to use the additional revenue generated from the business to pay her children's tuition fees.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 38 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fishers 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.