Loly, age 59, lives in the village of Nagrumbuan with her husband. To earn a living, Loly owns and operates a farming business. Her main source of income comes from planting and harvesting rice for sale. She has been engaged in her business for more than 20 years and earns approximately a net income of 30,000 PHP every crop season. Loly needs this business as a source of income in order to provide for her family's daily needs. Right now she would like to request a loan in the amount of 38,000 PHP in order to purchase seeds, insecticides and fertilizers for her farming business.
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.