Reynaldo is 57 years of age. He is married and has two children who are in the high school and college levels of education. Reynaldo’s wife is engaged in a retailing business, selling a variety of grocery items like powdered juice, spices, biscuits, soft drinks and canned goods.
With his determination to give a better quality of life to his family, Reynaldo found a source of income that would help him to finance his family's needs. He is engaged in selling spare parts in the market. He has been in this business for 15 years.
Reynaldo wishes to extend the products he offers for his customers, but he doesn’t have enough capital to do it. Thus, Reynaldo is asking for a loan of PHP 30,000 to buy a pump belt, tires, sprockets and motorcycle chains. He hopes to maintain the business for a continued source of income.
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.