Merlyn, 48 years of age, is married to a bus driver, and they were blessed with two children. She owns and operates a restaurant in the city. Her restaurant is located in front of school, so most of her customers are students and she gives them a budget meal. Her monthly net income is Php 50,000, and she wants to access a loan amounting to Php 30,000 to purchase condiments and ingredients for her business. Her profits are used for expansion, repairs and maintenance of her restaurant.
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.