Edmund, age 31, is a rice farmer. Upon harvesting his crop, he sells the produce to traders, and he earns approximately PhP 10,000 each harvest season, which comes twice a year. He has been engaged in his business for over 10 years. He uses his income to sustain his family and as revolving capital in the business. He and his wife have one child.
Edmund would like to increase his income, which is why he is now asking for a loan in the amount of PhP 25,000. He will use the loan funds to buy pesticides and fertilizers needed in his farming enterprise. This will help sustain crops and ensure a healthier growth.
Edmund aims to continue ensuring a fruitful harvest in his farming business. His goal is to build up a savings fund for his child's education and to improve his family's standard of living.
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.