Imelda was 16 years old when she got married, and is now 43 years old, separated and blessed with four children. Because her family had no stable source of income, she went abroad to work as a domestic helper. She did this for eight years, then came home and opened a sari-sari (or variety) store where she makes most of her income by selling snack foods, breads and drinks. Imelda is determined to give her children the best possible life, and uses much of her income to send them to school. She hopes to be able to send them to college someday. To make this possible, she has also gone into business selling meat such as chicken and pork, as well as lipstick, lotion and fragrances. She would also like to begin selling rice, but does not have enough capital to do this. That is why she is applying for a loan for PHP 50,000 to to open a new business. In the future, she hopes to buy a car, grow her businesses and send all of her children to college.
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.