The primary source of income on which Edna and her family relies is through making and selling cacao balls and peanut butter which is ideal for sandwich spreads. Edna has been doing this for 10 years and earns PHP 4,000 each month.
Edna is 56 years old, married and has been blessed with 10 children. Five of them have settled into marriage so that she didn't even sustain their college education. The rest attend school.
She decided to borrow PHP 14,000 to buy more cacao balls, peanuts, brown sugar and plastic jars for packaging. She needs to increase sales to earn additional profits to sustain her children's schooling. She wants to provide a good education for them to earn a degree so they can someday seek better employment.
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.