Clara P. is from the village of Brgy. Bagahabag, Solano, Nueva Vizcaya. She is 51 years old, married and has five adult-aged children. To make a living, Clara owns a general store where she sells daily use products such as shampoo, soap and toothpaste to the local community. Clara has been engaged in her business for over five years and earns approximately 3,000 Philippine pesos (PHP) a month for these activities.
In 2011, Clara joined ASKI to gain access to financial services with the hopes of improving her living situation and ability to engage in business activities. Clara is requesting her first loan of 5,000 PHP which will be used to purchase additional products to sell. She plans to use any additional revenue generated from her business to improve the living conditions of her family.
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 of 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.