His main reason why he is working hard is for the education of his children. Jerold is in his thirties, married and has two siblings. Planting rice crops and hog-raising is their family's main source of income. He has been in this business for almost 11 years.
His time in the hog-raising business means that he has developed a strategy to grow his hogs quickly and healthily. Jerold says that he finances his hog-raising business with the support of traders. He gets feed from the traders if it is available, but if it is not offered he gets financial support from them.
Since traders have high interest rates, Jerold realized that most of his profit went on the interest payments. Jerold decided to borrow a loan amounting to PHP 50,000 from ASKI to buy feed and vaccines for his hogs. He hopes to maintain the business and improve it so it grows.
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.