David is 41 years old, married and has two children. To acquire income, he manages a welding shop in their village. He has been in this business for five years, gaining an income of about PHP 30,000 each month. He uses the income to educate his children and as revolving capital in the business too. He is now applying for a loan of PHP 40,000 to buy welding rods used in his business. He hopes to keep improving his services and acquire more customers in order to gain a profitable income. Additional revenue will be used for education and emergency purposes. His photo was taken at his shop with his wife beside him.
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.