Nicolas, 51 years old, is married. His main source of income comes from planting and harvesting rice to sell. He has thirty years of experience. With his last crop, he earned about PHP 35,000. Now, he is asking for a loan of 50,000 PHP to purchase fertilizers and seedlings and pay the labor cost for planting his farm. Future loans from KIVA would be very useful to him, as he sees the loans as the only chance for the growth of his business and financial security.
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.