Eduardo is 45 years old and married with three children. To generate income, he works as a farmer in the Philippines, planting rice in their field. He can suffer with the heat of the sun, or the cold under the rain, just to take care of his crops in the field in order to feed his family.
He is proud to be a farmer. He has been running a rice field business for almost 21 years. Eduardo practices farming in order to provide the needs of his family. He has been getting farm supplies from the traders with a high interest rate. Now, Eduardo thinks that he can earn a higher income if he can find other lenders that will give him a minimal interest rate.
He decided to borrow a loan of PHP 27,000 to buy fertilizers, seeds, herbicides and insecticides to use in farming. The loan will be a big help for him to stop borrowing from the traders.
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.