Norma, 52 years old, is the mother of five adult-aged children. She lives happily in a village in the Philippines. Norma has owned and managed a variety store in their village for almost 15 years. She usually earns a profit of PHP 6,000 a month, which she has used to acquire the family's necessities and finance the children's education. Through patience and hard work, Norma has educated all her children and most of them are employed.
Norma still aims to continue and improve her business in order to earn and save for daily living and future emergencies. She is asking for additional capital of PHP 18,000 to buy additional stocks of canned goods, noodles, eggs, soaps, beverages, junk foods and soft drinks to sell in her store. She is hoping that she will improve her business and make it a viable source of income in the future.
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.