Magdalena, 48 years of age, is married and has five children. She has operated her retail store in their village for almost 15 years, and she earns approximately 8,000 PHP a month. She has requested a loan from Kiva lenders of 20,000 PHP to purchase grocery items to sell in her store. Magdalena is determined and patient to improve her business to supplement the needs of her family. Her profit will be used as additional working capital for her business.
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.