Jovelyn produces snacks that she sells in her village. She needs additional capital for the growth of her business, and so she is requesting a loan of PHP 10,000. With the loan she will instantly purchase stocks of ingredients she needs for cooking. She believes that by having sufficient capital to run her business it will become more productive, which will bring her more income. This will benefit her children, most of whom are still studying.
Jovelyn, a 39-year-old businesswoman, is from the village of Cabisera 25 province of Isabela. She is married to Noli who operates a passenger jeepney (a small bus) which they own. They have five children and Jovelyn wishes to provide a good future to all of them. No matter how hard it is to have a big family, she knows that they will be able to attain their dreams as long as there is strong determination among them.
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.