Leonardo is 58 years old and married with four children. Leonardo has operated a rice-farming business in his village for 35 years.
Leonardo is finding it difficult to pay for his farming needs such as fertilizers and herbicides. In order to pay for his farming needs, Leonardo borrowed additional capital from traders with his product serving as his payment to them.
Leonardo would like to borrow additional capital of PHP 50,000 to buy farm inputs such as fertilizers, seeds and herbicides. He says that, because of the loan, he will no longer need to ask for additional capital from the traders.
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.