To make a living, Lucena has operated her general store for more than three years. She earns PHP 300 each day through the business, which is being rolled into revolving capital to maintain the business. She is 54 years old and is married with six children.
To expand her retailing, she is taking out this loan amounting to PHP 25,000 to purchase stock such as canned goods, groceries, noodles, shampoo, and spices to sell. Lucena hopes to further grow her general store and to increase her income, which will secure her family's future and the education of her children.
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.