Elizabeth B. lives in the town of Bayombong, Nueva Vizcaya. She is 45 years old, married and has three school-aged children. Elizabeth makes a living by running a specialized store where she sells items such as glasses, watches and handbags to people who live in her community. She has been in business for more than 25 years and earns about 7,000 PHP a month from her work.
In 2009, Elizabeth joined ASKI to gain access to financial services to help improve her life and ability to engage in business. She has successfully repaid three loans from ASKI and is applying for a new one, for 30,000 PHP, to buy more products to sell to her customers. She plans to use the additional income made possible by this loan to improve her family's living conditions.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 38 branches covering the Central and Northeastern parts of the country. Its clients are mostly of farmers, fishermen and women, 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 Partners 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.