Teresa is a hard working mother who aims to improve her family's standard of living, to satisfy her family's needs, and to finance the education of her five children. She and her family live happily in a village, planting and harvesting fruits and vegetables for sale. Due to the high cost of commodities and school fees, Teresa wants to improve her small variety store to increase her income.
Due to insufficient capital, Teresa is asking for an additional loan of PHP 12,000 to buy bread, junk food, canned goods, toothpaste, soaps, candies, and beverages for resale. She believes that this financial assistance will enable her to improve the business as she continue to work hard. In the future, Teresa is hoping that her business will grow and her children will have a bright future.
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.