Teresita is 52 years old, married to Armando and has six children. To make a living, the couple raise crops to sell. They have planted and harvested rice for over 10 years now and usually make PHP 15,000 each harvest season. Their profits are used for food and for revolving capital for the farming business.
Teresita is taking the loan so she can invest in making her crops healthier through applying fertilizers and insecticides. She is asking for PHP 20,000 to buy five bags of fertilizers and three liters of insecticides used in farming.
Teresita hopes to achieve an abundant yield every harvest season and to attain financial stability someday.
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.