Nena is 44 years old and has five school-age children. As a responsible wife, she set up a small variety store in their village to help her husband to generate income. Despite the hardship they face, she and her husband aim to continue sending their children to school so that they will earn a degree and become professionals someday. Thus, she and her husband aim to improve their status so that they can finance their children's education and provide all their necessities.
To increase the family's income, Nena wants to expand her product offerings to satisfy customer demand. She is asking for a loan of 15,000 Philippines pesos (PHP) to buy goods such as breads, canned goods, soaps, noodles, junk food, and soft drinks. She believes that this loan will allow her to improve the business and hopes that she will be successful in fulfilling her plans.
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.