Thelma is a mother who loves to sell snacks. She usually sells snacks like halo-halo (dessert made from shaved ice and condensed milk, mixed with sweet beans and/or fruit) in their village. She is 36 years old and is married to Liopuldo. She has been in her business for almost three years and earns about PHP 300 a day. Thelma wants to have more snacks to sell in their local community, but she has an insufficient capital. Therefore, Thelma is asking a loan in the amount of PHP 10,000 to buy raw ingredients such as banana, nata de coco (a chewy, translucent, jelly-like food), gulaman (bars of dried seaweed used to make jellies or flan) and native cakes to cook and sell. Thelma hopes to grow and expand her business to secure her family standard of living.
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.