Visitacion, 38 years old, is now a widow for two years. Her husband died in 2010 due to hypertension. She is a mother of two children, both in their elementary grades. Her income in the business goes towards the welfare of her children.
As a single parent, Visitacion works hard to succeed in the businesses she manages. She runs a store where she invested PHP 50,000 as current revolving capital. Activities that made Visitacion busy most of the time are the simple buying and selling of corn during harvest season using the PHP 20,000 initial capital.
She wants to borrow PHP 30,000 that will be used as additional capital in her store. She will buy stock of different grocery items like noodles, canned goods, soda, powdered juice, bread, and many more items. Some of the loan will also be invested in corn to buy and sell to get a bigger income. As she said, the bigger the capital, the bigger the income.
Someday, when her business revolving fund is stable, she wants to develop a grocery store in their place. Her corn buying and selling will improve further to become competitive with other traders that are present in their place.
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.