Joy is 33 years old and is married with two school-aged children. He is lucky to be married to a teacher named Nory. Joy is a farmer in the Philippines. He has run a rice farming business for almost 16 years. With his expertise in farming, Joy earns an average income of P40,000 per crop. Despite the hindrances he has encountered in farming, like pests, Joy still prefers to continue in this business because it is the primary source of income for his family. Joy wants to get a better yield from every crop. He visits his farm every other day to ensure that his crop is in good condition. Joy is requesting a loan of P50,000 to purchase fertilizers and rice seeds, and to pay for the labor to prepare the land for planting. He hopes to use the loan wisely; it will help him to get the farm inputs needed for farming.
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.