Milagros is 54 years old, married and has three children. To make a living, Milagros owns and operates a food stall. She has been engaged in her business for two years and earns approximately 6,000 PHP a month for these activities. Now, she is requesting a loan of PHP 20,000 to purchase meat and vegetables to cook and sell. Milagros plans to use the additional revenue generated from the business to save as a reserve for future emergencies.
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.