Due to lack of job opportunities, Nelia decided to start a business to generate income. She is 30 years old and single. She buys and sells motorcycle parts and accessories in the community. Nelia has aimed to improve the business and increase her income to save for her future and to support the schooling of her younger brothers. She has planned to acquire additional stocks of motorcycle parts and accessories, but she does not have enough capital. Therefore, she is asking for a loan of PHP 30,000 to buy additional stocks of motorcycle parts and accessories for resale. She believes that this loan will help her to improve the business and is hoping that someday, she will become financially stable.
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.