Leonida, 54, is a widow and sole parent of five children. She works hard to generate income from her rice retailing business in their village. With this business, she is able to sustain the needs of her children.
Leonida wants to buy five cavans of milled rice to retail and to buy new products, such as canned goods, to sell in her stall. She is asking for a loan of 20,000 PHP to pursue this business improvement.
From three years managing the business, she estimates her average net income at 2,000 PHP per month, which is used in providing for her family's basic needs and for further business development.
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.