Due to financial difficulty, Irine runs a small variety store near the Public Market, selling grocery items and vegetables to generate additional income. She is 38 years old, married, and has three school-aged children. Due to high cost of school fees and commodities, she needs to increase her income to satisfy their necessities and continue financing the education of her children. She is asking for additional capital of PHP 8,000 to further improve the business. She intends to spend the loan buying more beverages, seasonings and vegetables to sell. She is hoping that this financial assistance will help her to improve the business to make it more viable and profitable in the future.
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.