Magelyn is 43 years old and married with two children. She works very hard to provide the needs of her family. She is an Avon cosmetics products distributor in the Philippines and because of insufficient capital, she is requesting a loan of PHP 10,000. She wants to buy additional stock of Avon products to sell like lipstick, pressed powder, lotion and perfumes. She has been in this business for five years and she is earning an income of PHP 4,000 monthly. According to Magelyn, she will do everything just to provide the needs of her family, especially to do her responsibility as a mother of her two kids in terms of education and daily needs. In the future, Magelyn would like to save more funds for their future needs and to alleviate her family from poverty.
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.