Mercedes is engaged in the variety store and direct selling business. She has been operating her variety store for ten years and her direct selling business for three years. Mercedes is 40 years of age, married with four children. Her eldest child is married; two are still studying and her youngest child an infant.
Mercedes would like to buy stocks of merchandise such as instant noodles, canned goods, eggs, cooking oil and assorted biscuits for her retail store but she struggles with a shortage of income. With regard to this situation, she is asking for a loan of PHP 7,000. She hopes that her requested loan amount will be granted so she could earn better income to enable her to educate her three children and cover all their household expenses.
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.