Silverio is a responsible, 47-year-old father who lives in Roma Norte Enrile, Cagayan, with his two children. His wife works abroad as a domestic helper. Silverio raises crops in their village, and he has been planting and harvesting rice for almost 10 years. In the absence of his wife, Silverio serves as both father and mother to his children.
Silverio wants to increase his crop production, but he has insufficient funds. He is asking for a loan of PHP 20,000 to buy fertilizers and insecticides for his farm. Additional revenue from the business would be used to pay for home improvements and the education of his children. Silverio hopes that someday he will earn enough income that his wife will not have to work abroad anymore.
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.