Minerva is 58, married and has four grown-up children. Her husband manages their rice farming business, but his income is not sufficient for their daily needs. Therefore, Minerva engages herself in a hog-fattening business. She has had her business for almost five years and usually earns a profit of 5,000 Philippine pesos (PHP) a month that she uses to acquire their basic necessities. She wants to earn more than her usual income, so she is requesting a loan of PHP 6,000 to buy feed, vitamins and vaccine. She believes that through hard work, she will improve the business and hopes that she will earn a higher income.
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.