Fred is a humble tricycle driver. He is 35 years old and married, with two young children. The family lives in Capatan, Tuguegarao City. Fred has provided motorcycle transport to the people in this area for almost 10 years. This is what occupies his daily schedule from 6am to 5pm, Mondays through Saturdays. He is a family-oriented person so he spends Sundays with his family.
Fred had to buy new tires but he had insufficient funds so he has asked for a loan of P13,000. He also plans to spend part of the loan for maintenance to ensure safety for his passengers and himself.
In the future, he would like to earn consistent profits to renovate his house, which was destroyed by a typhoon a few months ago. He also wants to save for the education of his children.
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.