Jovelyn used to have a bakery, but no longer. Because there were too many competitors in her village, she decided to sell her homemade doughnuts and other kinds of bread, from her home. With her new strategy, she is able to make more profit.
Jovelyn is happily married and has two children. With the greater income she gained from her bread vending activity, and monthly boarding fee, she was able to invest in motorcycle transport. With a little success she obtained that way, she then began a new business venture, which is raising of hogs. Currently, she is fattening two, as an additional source of income.
Jovelyn's homemade doughnuts sell well because of their good flavor. Now Jovelyn is in need of more capital, because she has many orders from her valued customers. For this reason, she is asking for a loan of PHP15,000, which will allow her to buy more kilograms of flour, sugar and cooking oil. She hopes that her requested loan amount will be approved, so that she will be able to fill all the orders. In this situation, she could continue to earn better income for her family's bright future, improving her living conditions and letting her two children finish their studies.
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.