Leonardo, 52, is married and has two children. To make a living, Leonardo owns and operates a food stall. While not the only means for generating revenue, the main source of income for the business comes from tending a canteen in the market. Leonardo has been engaged in his business for fourteen years and earns approximately 2,000 PHP a day for these activities. Now, he is requesting a loan of 30,000 PHP to purchase meat and vegetables to cook and sell. Leonardo plans to use the additional revenue generated from the business to save as a reserve for future emergencies.
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.