Ofelia runs a small variety store in the community to generate income. She is 46 years old and has three school-age children. Due to the high cost of commodities and school fees, she aimed to improve the business in order to generate sufficient income to support the education of her children. Due to inadequate capital, she is asking for 5,000 PHP (Philippines pesos) to buy more stock of soft drinks, beverages, noodles in a cup, snack foods and biscuits for sale. Through this loan, she believes that someday, she will improve the business and make it more profitable.
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.