Frank is a rice farmer in Solana. To earn his living, he plants and harvests rice, which he sells to traders. He usually gains approximately PhP 15,000 per harvest twice a year. The profits go toward the family expenses and serve as revolving capital for the business. Frank and his wife have one child.
Frank would like to improve his crop production, which is why he is now requesting additional capital in the amount of PhP 15,000. He will use his loan funds to invest in buying farm inputs (fertilizers and insecticides) for use on his farm.
He is hopeful that eventually, with good crop production and income, he will be able to create a savings fund for the family's future expenses.
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.