Jomar is 22 years old and still single. He planned to earn and save more income to help his parents in financing the education of his younger brother and sisters. Due to lack of job opportunities, Jomar engages in buying and selling of betel nuts and tobacco in their community to generate income. He aimed to strengthen the business in order to generate sufficient income. Due to insufficient capital, he is requesting an additional loan of PHP 10,000 to buy more stocks of betel nuts and tobacco to sell in the community. He is hoping that this loan will make it possible for him to improve and strengthen the business.
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.