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.
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.