Malvar T. is married and is 45 years old. He has two grown-up children who help him together with his wife in managing their retail shop where he sells various commodities such canned and bottled goods, coffee, sugar, soap, shampoo, spices and many more. Malvar also manages a drugstore in their place where he gets their major source of income. He has been in the business for more than six years.
Malvar is requesting a loan of PHP 50,000 to use in purchasing a stock of medicines for sale and also goods to retail in his store like soft drinks. Each month, he earns a monthly net income of PHP 20,000 doing this type of work.
In the future, Malvar hopes to further improve his business and meet his goal of becoming a successful entrepreneur by simply working hard and staying humble.
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, fisherfolk 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.