Mercedes is already 49 years old and is married to Agapito, a 50-year-old farmer. They have four children, three of whom are still studying. Their eldest is George, Jay-Jay, and following him is Jerome. Mercedes is praying that all her children will finish their studies someday through their business, which they are trying to improve more. Mercedes, along with her husband, runs a furniture business. They are helping each other in making and selling their products. Their children have growing needs which is the reason why they need to double their effort in producing more products.
The couple needs additional revolving capital to finance the needs of their business. Mercedes is requesting to borrow a loan of 15,000 PHP. They need to purchase more wood so that they will be able to produce more furniture in a short period of time. She hopes that her proposal will be approved because it will be of great help to the success of their business which could also assists the educational needs of their children.
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.