Josephine is engaged in selling malagkit (sticky rice) dishes such as kutsinta (rice cake), puto (steamed rice cake) and bibingka (rice cake with coconut milk) in the village. She is 55 years old and has been involved in this activity for more than four years. It provides a good income for her family. Due to the improvement of their lifestyle, she wants to continue and expand this business. For this reason, she is requesting a loan of PHP 7,000 as additional working capital to purchase malagkit and sugar to develop her stated 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.