Benjamin runs a rice-farming business that has an area of 1.2 hectares. He has been managing it for almost 21 years. He is 43 years old, is married, and blessed with four children. Among his four children, one has settled in marriage, and has a separate house; two are still studying, and the other one is still single.
He and his wife are doing some field activities to minimize their labor expenses. However, they still need to hire laborers to be able to keep the expected date of sowing and transplanting, but his capital is not sufficient. So, he is asking for a loan of PHP 20,000 to buy certified seeds of rice, fertilizers, herbicides, and to pay for the labor costs of rice farming. He is hoping that he can improve the farm land and provide all the materials needed to care for his rice crop. Through his patience in cultivating and improving his rice fields, he can earn greater profit to make a living. In addition, he can support his two children in their studies.
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.