Wilfredo is 32 years old, married, and has three children. He and his wife manage a footwear business. They sell shoes, slippers and sandals in different municipalities on market days. His approximate income per month from the business is P10,000.
Wilfredo started using capital that was borrowed from his sister. His determination to grow the business pushes him to work hard and manage the business well. Wilfredo wants to buy the products he sells in volume to minimize his expenses in purchasing the products but he doesn’t have enough capital to do this. Wilfredo decided to borrow a loan of P50,000 to buy various styles of shoes, slippers and sandals to sell in different municipalities. Wilfredo wishes for the growth of his 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.