Luzviminda is a hard-working and business-oriented woman. She is married and has two children. Both of her children currently go to school.
Luzviminda's and her husband's primary business involvement is in agriculture, particularly corn farming and hog raising. She manages three hectares of corn and raises one sow and three fattening hogs. According to her, she has been running her agricultural business since 1999. With her patience and the support of her husband, they were able to improve their financial stability and established another business, which is a variety store.
Her variety store has been open for two years. Luzviminda plans to buy stocks of merchandise, such as canned goods, shampoo, bar soap, soft drinks, sugar, coffee and assorted biscuits. But due to having had insufficient funds to fully stock the store, she is requesting a loan of PHP 20,000. She knows that through re-stocking her variety store with a complete set of basic commodities, she could gain more income. Also she will reduce her costs, because now she has high fare expenses in going to and from the market where she buys inventory, because her place is too far from the market.
Luzviminda hopes that she will obtain this loan amount, and use it for profit, which will help her to educate her two children and continue to improve her financial stability.
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.