Catherine is a responsible housekeeper who operates a small store selling grocery items to the people in her village. She is married and has two children attending school. She wants to offer more products in order to gain higher profits but she has insufficient funds. For this reason she is requesting a loan of 25,000 Philippine Pesos (PHP) to buy soft drinks, eggs, noodles, breads and biscuits to sell in her store. She promises to keep improving her sales if lenders will provide her hoped-for loan, which will allow her to give a better education and standard of living to her children.
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.