To make a living, Cinderella manages a jewelry shop in the public market of Santiago. She is 52 years old and is married with 13 children. She is grateful because she is able to support her family's needs.
Cinderella would like to increase her profit so she can sustain her large family and improve their financial stability. She seeks to attain her goal through wise management, economizing her expenses for the family's daily needs by avoiding purchases of non-essentials, and asking for additional capital to improve her jewelry shop. For this reason, she is asking for a loan of 40,000 Philippine pesos (PHP) to buy more fashion jewelry. This could enable her to earn a greater profit and thus improve the quality of her handmade fashion jewelry as well as satisfy customer demand. She hopes to obtain the loan amount requested to improve her family's standard of living, support her children's education, and save some money for emergencies.
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.