Fely, 57 years of age, is married to a welder, and they are blessed with six children. She has owned and operated a retail store for almost twelve years. She earns a net income of Php 5,000 every month. Fely also manages a beauty parlor and a welding shop for additional sources of income. She requested a loan amounting to Php 15,000 to purchase biscuits, canned goods, candies, noodles, and beverages to sell in her variety store. According to Fely, her profits are usually spent in their daily expenditures.
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.