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Magdalena
Due to hardships in life, Magdalena engages herself in the buying and selling of dry goods to supplement her husband's income. She is 40 years old and has two school-age children. They plan to continue sending their children to school so that they will earn degrees and find good jobs someday. Despite financial difficulties, Magdalena and her husband have the strong determination to work out their plan.

Magdalena aims to improve her small business to increase her income and support the education of their children. She is asking for capital of 50,000 Philippine pesos (PHP) to buy additional stock of dry goods like shirts, short pants, skirts, blouses, jackets and pants to sell in the public market. She mentions that this loan will help her to work out her plan and make an improvement in the business.

Additional Information

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.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

About Philippines

  • $1175
    Average annual income
  • 1101
    View loans »
    Philippines Loans Fundraising
  • $54,704,675
    Funds lent in using Kiva
  • 43.9
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Magdalena to buy additional stock of dry goods like shirts, short pants, skirts, blouses, jackets and pants to sell.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2011
Listed
Jan 1, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 22, 2012