Manuel, age 40, is a farmer. He earns an income by planting, harvesting, and selling rice and vegetables. He and his wife have three school-aged children. Being a responsible father, he is committed to providing for the education his children and offering them a better life.
Due to the high cost of school fees, Manuel needs to increase his income in order to support his children's education. For this reason, he has started buying and selling iron and steel in his community to generate additional income. As he presently has insufficient capital, he is asking for a loan in the amount of PhP 10,000, which he will use to purchase a stock of iron and steel to offer for sale.
Manuel is a patient and industrious person who is determined to improve the business and make it more profitable in the future.
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.