Franklin S. is from the village of Olango. He is 40 years old. Franklin is married and has 4 school-aged children. To make a living, Franklin owns & operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting and harvesting rice for sale. Franklin has been engaged in his business for over 20 years and earns approximately 35000 PHP per harvest.
In 2007, Franklin joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Franklin has successfully repaid a previous loan of 26,000 PHP from ASKI. This previous loan was used to purchase fertilizer such as manure.
Franklin is requesting a new loan of 30000 PHP which will be used to purchase fertilizers such as manure. This loan will be the 9th loan taken out by Franklin from ASKI. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.
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.