Myrna, age 51, buys and sells fruits and vegetables to earn an income. She has been engaged in this business for over five years. While she does not make much money through her business, she has four responsible grown children with their own livelihoods who help her, and this inspires her to keep trying to improve her venture.
Myrna would like to enhance her current business in order to achieve a better profit. She has realized that retailing gasoline is a profitable source of income, so she has decided to supplement her current business by offering gasoline to her customers.
She does not have sufficient capital for this investment at present, so she is requesting a loan in the amount of PhP 20,000, which she will use to buy both gasoline and vegetables to offer for sale.
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.