Virginia is 43 years old. She is married with four children. She and her family live happily in a village and have a plan to raise their standard of living. Farming is one of their major sources of income; they plant and harvest rice to sell. She has been in this business for more than four years and usually earns a profit of PHP 30,000 in each harvest season. At this time, Virginia is asking for a loan of PHP 45,000 to buy rice seeds, fertilizers, and pesticides, and to pay for the labor needed for rice planting. She and her family believe that this loan will be an enormous help to their hope of increasing their yield.
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.