Otiliana, age 57, operates a vulcanizing service to earn an income. She has run her business for the past five years. "I was lucky," she says, "because from the very beginning this service went very well, and I have been developing a steady clientele since then." She adds, "In the near future, probably in a year or so, I plan to open a second service of this kind and hire someone to help me out." She is requesting a loan in order to buy wire and a machine for her vulcanizing shop.
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.