Jimmy is 27 years old, single and lives with his parents at Amulung. He has a farming business which he has been managing for 10 years now. He plants and harvests rice to sell. He usually earns PHP 15,000 each harvest season, twice a year. He uses his income to provide sustenance to his family and as capital for the business too.
Jimmy is now asking for a loan of PHP 20,000 to buy fertilizers and pay for labor costs associated with the farming business such as tilling the land and sowing rice seeds. In the future, he would like to keep making his farm productive and save for his parents’ needs, especially as they are getting weak and old. It will help him achieve economic stability someday.
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.