Benedict is 33 years old and still single. He aims to become financially stable before he settles down. To generate income, he put up a small variety store in their village, selling grocery items, fruits and vegetables. He has been operating the business for almost three years and usually earns a profit of P8,000 a month that he usually spends for his necessities and also uses to help his parents in financing the education of his younger brothers. He plans to improve the business to increase his income. Due to insufficient capital, he is asking for a loan of P6,000 to buy additional stocks of grocery items, fruits and vegetables for sale. He hopes that someday, he will expand the business and make it more profitable.
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.