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Renato
Renato is 44 years old and is married with four school-aged children. Renato plants three hectares of rice fields in the Philippines. He has been a farmer for 28 years. He earns approximately PHP 100,000 per crop, but he only bring home half of that because after selling the products, he has to pay his obligations to the the traders from the private sector who lend money with high interest rates to small farmers from villages.

Renato dreams of improving his family's standard of living. He wants to borrow a loan of PHP 40,000 to buy fertilizers, seeds, and herbicides for rice farming. He hopes the loan will be a big help for him. This loan will allow him to not get a loan again from the traders. Instead of paying high interest rates to the traders, he will spend the money on food and education for his children.

Additional Information

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.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

About Philippines

  • $1175
    Average annual income
  • 327
    View loans »
    Philippines Loans Fundraising
  • $52,706,975
    Funds lent in using Kiva
  • 43.2
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Renato to buy fertilizers, seeds, and herbicides for rice farming.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Oct 5, 2011
Listed
Nov 3, 2011
Currency Exchange Loss:
Possible
Ended:
May 23, 2012