Merlita manages a furniture business in their village. She is 47 years of age and has four children attending school. Merlita and her husband have managed the business for almost 28 years. They started the business without machines; they use their own techniques to run the business. Their profits from the business serve as their children's allowances for school and bestow their daily needs.
Merlita sells dining sets, beds, chairs and tables. Merlita wishes for a loan of PHP 20,000 to buy wood and burnishing materials to beautify the furniture they sell. Merlita hopes that by beautifying the products they sell it will encourage customers to buy and generate higher income. Through the income this generates, she will financially support their children's needs for school.
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.