Teodoro, who lives at Padul, has been an experienced farmer for 18 years. He inherited farming practices from his parents. He is now 40 years old, happily married, and has three children. He is planting and harvesting rice to sell. Teodoro also hired additional laborers who helped him plant and transplant rice seedlings on his two-hectare rice field.
Teodoro wants to improve his crop production, but has insufficient funds to do so. So, he is now asking for a loan of PHP 50,000 to buy rice seeds, 10 bags of urea (fertilizer), and pesticides for crop sustainability. With the help of this loan, he will ensure a healthy growth of crops which will lead to higher production upon harvest. His income will be used for education, meals, and bills at home.
In the future, Teodoro would like to earn good profits from his business that will help lift his family out of poverty.
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.