Nena is 56-year-old widow with three adult children. The family lives in a barrio and plants rice and vegetables. As rice is their main source of income, they want to increase their rice production to earn more income and satisfy their basic needs.
Due to financial constraints, Nena has requested a loan of 8,000 Philippine pesos (PHP) to buy fertilizers and insecticides and to pay for the labor costs of transplanting rice seedlings. She hopes that, during the upcoming harvest season, they will increase their crop yields and income so they can meet their basic necessities and save for future emergencies. She dreams of putting up a general store in the future as another source of income. She believes that if there is patience, there is progress.
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.