Due to financial difficulty, Carmen wants to improve her small variety store and increase her income to satisfy her family's needs. She is 56 years old and has three grown children. Being a responsible mother, she plans to improve their standard of living to give them a better life. To improve the business, she is applying for a loan of PHP 20,000 to buy a larger stock of snack foods, canned goods, noodles, beverages, seasonings, fruits, and vegetables to sell. Despite the hardships and difficulties of life, she is determined to improve her business and hopes that she will be successful in carrying out her plan.
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.