Loreto is a simple man but full of hope. He always believes in the saying “if others can, why can’t he?” Loreto is married to Josephine, who is working as a recruiter of domestic helpers who want to work abroad. They are blessed with three healthy children. They live in Barangay Rizal, one of the farthest barangays in Quirino province where farming is the major source of livelihood.
Loreto works as a farmer in their village. However, his income is not enough to meet all the needs of his family. So he and his wife decided to engage in another business that would generate additional income. He requests a loan of PHP 20,000, which they can use to put up a sari-sari store (a community-based store) in their village. They plan to sell basic commodities needed in their community.
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.