During the six years she has operated her retail shop business, Magdalena has experienced success. However, there are factors contributing to downturns in her business. Aside from low income, she also rarely experiences lack of capitalization. With this situation, she is requesting a loan of 20,000 PHP to purchase cup noodles, soft drinks, biscuits, canned goods, cooking ingredients, sugar, cooking oil, milk and detergent soap for her grocery store. She hopes that with this loan she will be able to enlarge the store, offer more services to her customers and earn a higher income to meet her family's needs.
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.