Marcelina is 49 years old, a married woman with four children, all of whom attend school. To make a living, her spouse is a farmer while Marcelina sells rice to the people in her village. From each sack of rice she sells, she gains about PHP 450 in profit. She would like to buy six sacks of rice to sell but she lacks sufficient funds. She is requesting a loan of PHP 8,000 to invest in her rice vending business.
Although her business is small, Marcelina would like to further improve it and someday save funds to renovate her house.
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.