Pedro manages a small store in the front of his house. He is married, had 10 children, and four of them attend school. The rest have settled into marriage and live separately from him. His spouse also raises hogs to sell as an additional source of income.
He takes in about PHP 4,000 each month from his store, and he wants to increase that, so he is asking for a loan of PHP 15,000 to invest in buying more commodities to sell. He will buy sardines, eggs, biscuits, noodles, soap, and shampoo. This will help meet his customers' demand.
Pedro hopes to keep extending good service and affordable prices to all his customers so he can boost his profits, too. He will use the additional revenue to pay school fees for his children. The family lived less fortunate, but they were happy and determined to achieve success someday.
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.