Frumencio is 45 years of age. He is married and is blessed with 1 child. He has been growing rice for almost 20 years. From the last crop, his net income was 30,000 PHP.
Frumencio is asking for a loan of 25,000 PHP to purchase fertilizers and seedlings for his farm. He would like to continue availing himself to similar loans and hopes that Kiva lenders will extend their assistance to him in the future.
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.