Ma. Loreta lives in the village of Nagrumbuan. She is 46 years old, married, and has five school-age children. To make a living, she has been selling personal items and kitchen supplies in the local community. Ma. Loreta has been in this business for more than 16 years and earns about 300 pesos a day from these activities. As of now, Ma. Loreta is requesting a loan amounting to 9,000 Philippine pesos to buy additional stocks of kitchen supplies and personal items to sell in her village. She believes that she can improve her business with the loan amount she requested.
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.