Reynaldo has been planting rice crops on his field for 27 years and earned PHP 7,000 from his last crop. He failed to earn as much money as he expected, however, because his crop was affected by pests. He wants to increase his rice production to meet his children’s needs and pay their school fees. It will be difficult for Reynaldo to do this because his earnings from his most recent crop were minimal. That is why he is requesting a loan for PHP 27,000 to buy seeds, fertilizers, and insecticides for his farmland. He is hoping for a better crop so that he can save for his children’s education.
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.