Cherry-Ann is 22 years old, married to Boyet and blessed with two young children. She is a helpful and hardworking mother. She helps her husband maintain their farming business. The couple manages a hectare plot of land, on which they plant and harvest rice. They are very thankful to their in-laws, who gave them the rice field. It serves as their primary source of income.
Cherry-Ann is now taking out a loan of 30,000 Philippines pesos (PHP) in order to improve their farming output. She will buy two bags of rice seeds, fertilizers and two liters of insecticides with the money, which will help to ensure healthier crops.
In the future, Cherry-Ann would like to keep producing abundant crops in order to boost her profits. Additional revenue will be invested in buying pigs to raise and sell as an additional 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.