Ricardo is a farmer, planting corn in the Philippines. He is 57 years old, married and blessed with four children. Among his children, only his youngest child went to college and is about to finish. His other three children are already working and help him financially to sustain their family necessities and his child's school fees.
Ricardo wanted to borrow a loan of PHP 25,000 to buy piglets and hog feed. He plans to develop his business, earn a higher income and save some of it for the future emergencies of the family, especially since he and his wife are getting older.
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.