Yolanda is 33 years old, married and thankful for having two children. Her family is her motivational guide, and she works hard to give them a better quality of life by doing something that brings in additional income and allows her to support her children.
She has been running her general store for ten years. The daily net profits of 500 PHP are just enough to cover the cost of the family's daily meals. Thus, she is thankful for having other sources of income aside from retailing: she also has a boarding house for rent.
To improve her income in the store, Yolanda is requesting a loan of 40,000 PHP to purchase additional stock of items such as biscuits, soft drinks, cooking oil, sugar and other ingredients to resell. Yolanda says that the loan will be very helpful in the success of her businesses.
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.