Elizabeth is 47, married, and has three adult children. Her husband is a farmer and they live happily in a village. They own and manage 2 hectares of rice fields and usually have two cropping seasons. Despite the hardships in farming, they are striving hard to earn and support the needs of their family. They plan to increase their yields so that they will increase their income and support the education of their children.
Due to financial constraints, Elizabeth is asking for a loan of 28,000 Philippine pesos to buy seeds, fertilizers and pesticides for the rice farming business. They mention that this loan will help them to work out their plan and they hope that they will increase their yields this coming harvest season.
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.