Lorena married at an early age. She is 21 years old and has two children. One child attends school, and the other is still young. She works as an assistant for a lumber company in Cauayan, and her husband works as a salesman at the same company. Combining their salaries, the couple earns 4,000 PHP net income monthly to support their daily needs, especially the needs of their children.
Lorena is requesting a loan of 7,000 PHP from ASKI that she will use to open a general store. Her mother will look after this business while she continues working daily at the lumber company with her husband. The loan will also be used to buy merchandise for the store including canned and bottled goods, seasonings, coffee, sugar, shampoo, and soap.
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.