Mary Grace is 30 years old, married and has two school-age children. She owns and manages a small variety store in their village to supplement her husband's income. They aim to become successful and financially stable someday so as to give their children a better life. She has been operating her business for almost three years and usually earns a profit of PHP 7,000 a month that she usually spends for their daily consumption and the allowances of her children in school.
Due to high cost of school fees, she aims to increase her income to continuously support the education of her children. To improve the business, she is asking for an additional capital of PHP 10,000 to buy junk foods, candies, canned goods, noodles, beverages, eggs, seasonings and soft drinks to sell. Despite problems and difficulties in life, they have the determination to uplift their status of living in the future.
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.