Eduardo is 50 years of age, married and has six grown up children. He plans to improve his family's living conditions and give his family a better life. With his wife, they help each other in managing their rice farming business to ensure a high production. They have been farmers for almost 28 years and they usually earn profits of P25,000 in every harvest season. Eduardo utilizes his income for his family's food, clothing and allowances for his youngest child.
Due to high cost of commodities and school fees, Armando planned to expand his rice plantation to increase his yields but due to inadequate capital, he is requesting a loan of P45,000 to buy seeds, fertilizers, pesticides and pay labor cost in planting rice. He believes that the loan will help his family improve their rice farming business and he is hoping that they will have a fruitful harvest.
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.