Abdulmoin is the very kind and hardworking 53-year-old father of five children, two of whom are currently in college. For the last 30 years, he has earned a living by selling clothing. During a typical month, he generates about PHP 6,000 in income. He is applying for a loan for PHP 20,000 to buy more clothing to sell to his customers and to improve and redecorate his shop. His goal is to earn enough money to put all of his children though college and also begin setting money aside for when he and his wife grow 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.