Bonifacio is 47 years old and is married. He has eight children, five of them are attending school and the rest have their own families and live by their own. Bonifacio has the drive and attitude to succeed. He spends most of his time raising crops, primarily planting and harvesting rice for future merchandise. He had been doing this for almost 10 years and usually earns a yield twice a year during the months of May and November.
He is now asking for a loan of P20,000 to buy crude oil for machines used in land cultivation, and to buy seeds and fertilizers used in farming. He needs to improve his crop production and generate more income to provide enough sustenance for the education of his children.
In the future, Bonifacio would like to yield better crops every harvest season and achieve a better quality of life.
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.