Lorna is a dealer of frozen foods. She is 40 years of age, married to a policeman, with two children. The couple both work hard in order to earn a living. She has been selling frozen foods for almost eight years and earns about 30,000 PHP. She uses her income towards their daily needs, an allowance for one of her children, rental of their house and savings.
Lorna wants to have more capital for her business due to some late payments of her customers. For this reason, she is asking for a loan of 40,000 PHP, allowing her to buy stocks of frozen foods such as tocino, embutido, longanisa (sausage) and hotdogs. She believes that her business will continue to improve so she can satisfy and supply all her customer’s needs. Lorna is looking forward to the approval of her requested loan amount so she can continue to make a profit, enabling her to sustain her family's basic needs and educate her 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.