Norly is 24 years old and single, but has two children. He has been running a cellphone and repair shop for three years. He earns about PHP 10,000 monthly. He utilizes his gained income to provide for his children, for his daily necessities, and to support his business. Norly aims to have more capital in order for him to maintain the good flow of his sales and profits. With regards to his goal, he decided to borrow additional capital in the amount of PHP 15,000. He will use this amount to buy cellphones and accessories for his shop. He hopes to get this loan in order for him to get ahead in life and save for the brighter future of his two children.
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.