Olivia dreams of lifting her family out of poverty. She is 57 years old. She operates a small store in front of their house where she sells a variety of products. She has been in this business for 3 years and usually earns 200 a day which is used for food and allowances. Olivia’s business needs additional products to sell in order to increase profits. Therefore, she is now asking for a loan of 10,000 PHP to buy canned goods, noodles, bread, sugar, coffee and beverages.
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.