Restituto is a jolly person who has no other dreams in life than to become a rich man. He means rich in love. Restituto is 47 years old and married with four children. He is a farmer working in the Philippines, planting rice in his two hectares of field.
Due to the increasing price of farm inputs like fertilizers, seeds, insecticides and herbicides, Restituto decided to borrow a loan of PHP 30,000 to buy the farm inputs and pay for the labor of land preparation and planting. He will have a big smile if he receives the loan because he will not think anymore of where he will get the budget to use in farming.
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.