Rosalia is 38 years old, married and has two school-age children. Due to financial difficulties, she aims to improve her variety store to generate sufficient income to support the education of her children and satisfy their basic necessities. She has been operating the business for almost two years and usually earns a profits of 6,000 PHP (Philippines pesos) a month that she utilizes for food, clothing and the allowances of her children in school.
Due to the high cost of school fees, Rosalia needs to increase her income to finance the education of her children. In this regard, she is asking for additional capital of 20,000 PHP to buy more stock of canned goods, snack foods, noodles, soaps, beverages, seasonings, soft drinks, fruits and vegetables to sell. She is hoping that someday, she will make the business grow and be more profitable.
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.