Leo is 53 years old and is married to Jesusa who operates a retail store in their village. In order to make additional income, Leo is engaged in farming. He raises crops, primarily planting and harvesting rice to sell. He usually earns PHP 40,000 each cropping season. Income generated from the business has gone on school fees and investment in the retail shop. Leo is now asking for a loan of PHP 29,000 to pay for land cultivation and to buy hybrid seeds and fertilizers necessary to ensure better yield. He hopes this loan will help grow his operation to increase his profits. In the future, Leo hopes to make consistent profits and maintain economic stability.
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.