Romulo is a farmer in the Philippines; he plants and harvests rice. He manages a large crop of rice, which is his family's main source of income. Romulo has been in this type of business for 25 years and usually earns a maximum net income of 20,000 PHP per crop season.
Romulo is 58 years of age, is married and has three children. His goal in life is to earn a higher income from farming and to be able to expand his business for additional earnings for the family.
Romulo’s income from farming is not enough to sustain against his expenditures in farming. Thererfore, Romulo is asking for a loan of 50,000 PHP to buy farm inputs like seeds, fertilizers and herbicides to use in growing crops.
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.