Alex, a 38-year-old farmer, wants to increase his income in the next harvesting season, and so is requesting a loan of P15,000 from Alalay Sa Kaunlaran Inc. to buy corn seeds, fertilizers and pesticides. Alex hopes to increase his income in order to finance the education of his five children so that they can one day earn degrees and therefore have better opportunities in life than he has had.
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.