Elena A. is from the village of Bacnor West. She is 47 years old. Elena is married and has five school-aged children. To make a living, Elena runs a general store. The main source of income for the business comes from selling a variety of different products in the local community. Elena has been engaged in her business for over 21 years and earns approximately 3,500 Philippines pesos (PHP) a month from it.
In 2009, Elena joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elena has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to purchase additional products to sell.
Elena is requesting a new loan of 10,000 PHP, which will be used to purchase new items to expand her product offering. This will be the third loan taken out by Elena from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.
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, 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.