Fausta, 61, is a widow and mother to three adult-aged children. She lives separately with her grandchild in San Manuel, Isabela. She is requesting a loan of 20,000 PHP as additional capital for her fish selling business that she has already been managing for 25 years now.
All of her children finished college by means of her selling fish in public markets. During their studies, she doubled her time just to get a larger income for their allowances. Now that they have finished school, her children have told her not to sell anymore but she feels weak when she is not doing the things she used to do, hence she is still selling fish at least once a week.
Fausta even recalls that her first loan borrowed in this ASKI loan program was in the year 2006. The money borrowed had served as her capital in the business throughout the years.
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.