Joel is 20 years old, single and lives with his parents in the town of Lanna. His father is a farmer and has taught him a lot about the business of farming. For the last two years, Joel has earned a living by growing rice, and makes about PHP 30,000 for each of the two harvests he has each year. He uses his income to pay for electricity, food and other basic items. He would like to improve his farming practices and ensure good crops, and is requesting a loan for PHP 43,000 to buy fertilizers, insecticides and herbicide. His goal for the future is to have plentiful harvests that will allow him to save for an emergency.
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.