Teresita is 47 years old, married, and thankful for having three children. Her family is her motivational guide, and she works hard to give them a better quality of life by doing something that brings in additional income and will allow her to support her children. She has had a retail store based in their home for four years. The daily net profit of 500 PHP is just enough to cover the cost of the family's daily meals. Thus she is thankful for having other sources of income aside from retailing. She also has raised pigs for 10 years.
To improve her income in the store, Teresita is requesting a loan of PHP 50,000 to purchase additional items such as biscuits, soft drinks, cooking oil, sugar and other cooking ingredients. She will also buy feed and vaccines for her pigs. Teresita says the loan will be very helpful in the success of her businesses.
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.