Mildred, a 37 year old store owner, is married to Serafin, a tricycle driver and manager of their welding shop as well as village treasurer. Their marriage is gifted with three children.
Mildred’s store has been a big help in their family, as each week she can earn a gross income of at least PHP 3,000, budgeting that income to support the studies of her eldest child, whose nursing course is very expensive, and for the educational needs of her other two children. Some of the earnings are also used to maintain their corn and rice farming business.
Mildred is requesting a loan of PHP 20,000 as additional capital with which she will buy more stock to offer in her store. The said amount will make her store profitable, and hopefully enable her to convert it into a grocery store. In this way, she can provide for the immediate needs of the people in the community and make it more convenient for them because they will not have to go to the market just to acquire their basic requirements.
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.