Alma is 43 years old and now a widow. She owns and manages a small restaurant located in a rural community. As it is the main source of her income, she aims to improve and strengthen the business to generate sufficient income to cover their necessities and support the financial needs of her three children. Due to insufficient capital, she is asking for a loan of 30,000 Philippine pesos to buy fresh meat, fish, vegetables, seasonings and other ingredients needed in the restaurant. She believes that this loan will enable her to improve the business and hopes that she will be successful 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.