Marita has managed a jewelry business for five years. She procures silver jewelry from a jewelry shop in Cauayan and Bangkok and gold from one of her friends. She sells the jewelry directly to her friends and some customers in her village. Marita is requesting a loan amounting of PHP 13,000 from the KIVA lenders to have additional working capital for the expansion of her business. She hopes that it will be granted so that she can maintain her business, which will be very helpful in sending her children to school. Marita is appointed as treasurer in her village, and has been treasurer for two years already. She is married to Ruben and he works as a tricycle operator. They have four children, two of whom are still studying. She hopes that through her business and her husband’s transportation daily income, they will generate enough income to be send their children to school. She hopes that KIVA lenders will help her business grow and allow her to send her children to complete their education.
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.