Filomena manages a tailoring business where she usually earns a net income of 4,000 PHP a month. She spends her income mainly for the education of her four children. Her husband assists her in supporting their daily needs through farming.
Wanting to make her business more productive, Filomena opted for a loan from ASKI and KIVA lenders of 15,000 PHP. She will use the loan to purchase cloth, needles and threads. In the future, Filomena dreams of having her Ready-to wear (RTW) shop in the market.
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.