Reymundo is 40 years old. He is married and has four children, three of whom are still studying. They live in Villa Concepcion, Isabela, where he manages their corn field. He has been on his farm for eight years. He only earned 5,000 PHP with his last crop because of an unexpected typhoon. His wife also operates a sari-sari store (variety store) based in their home where she sells groceries and daily goods. They are both thankful because the income they generate from their businesses helps them provide for their daily needs and enables them to continue sending their children to school. Now, Reymundo is requesting a loan of 50,000 PHP to purchase corn seedlings and fertilizers for his corn farm business. He hopes that he can get the amount he requested and he promises to repay the loan on time.
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.