Loel is a high school graduate, a widower, and has three children. He has been acting as both a father and mother to his children for ten years. Loel worked as seafarer but since his wife died due to breast cancer, he can no longer go back for work because he must stay with his three children.
Loel owns one hectare of a rice field. He has been engaged in this kind of business since he was 17 years old. Since he worked as a seafarer, he let his wife manage his rice farm. But now, he solely cultivates his farmland. Loel would like to ask for additional capital amounting to PHP20,000, which will be used to buy farm inputs, such as fertilizers and insecticides for his farming business. He knows that through this loan, he can further educate his three children and improve their way of living.
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.