Elizabeth is 22 years old, married and has one child. Due to financial constraints, she runs a small variety store to generate income. She has been operating the business for almost three years, and usually earns a profits of only 4,000 PHP (Philippines pesos) a month. She aims to increase her income in order to satisfy their necessities and save for the future of her child. To improve the business, she is asking for additional capital of 5,000 PHP to buy additional stock of rice, dried fish, vegetables, canned goods, eggs, noodles, beverages, seasonings and soft drinks to sell. She hopes that her loan will be a great help for her to improve the business.
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.