At his age of 48, Leonardo is already a widower. He has three children attending school. Before, Leonardo was working with his friend as a hair cutter when he realized that his income was not enough to sustain his family needs. Wanting to provide a better future for his family, Leonardo put up a small barber shop in front of their house. His stall became popular to the public because of good service and affordable cost, so he extended his barber shop site.
Leonardo knows that his children's expenditures in school will increase because they will enter college soon. He will strive to earn more profits and save some of it for the education of his children. Leonardo is asking for a loan of 20,000 PHP to buy materials like scissors, towels, hair dryer and shampoo to use for his customers.
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.