Lolita, a widow with five grown-up children, owns and operates a grocery store business. Lolita has been engaged in her business for over 12 years and earns approximately 8,000 PHP a month.
Lolita joined ASKI to gain access to financial services. She wanted to help improve her living situation and increase her ability to engage in business activities. Lolita has successfully repaid a previous loan. This previous loan was used to purchase baby livestock.
Lolita is requesting a new loan in the amount of 15,000 PHP, which will be used to purchase snack foods, drinks, noodles, and spices for her store. In the future, Lolita hopes that her business will sufficiently expand to allow her to help meet the needs of her children.
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.