Planting and harvesting of rice is the main source of income in the Philippines. Riolita is one of the farmers whose primary source of income comes from growing rice. Riolita sends her children to school thanks to her income from her farming business.
Nowadays, farm inputs in the market are costly due to the increase in demand from farmers. Riolita admits that she is finding it difficult to finance her farm needs due to her financial shortages. Hence, she is requesting a loan of PHP 35,000 to buy farm inputs like fertilizers, herbicides and insecticides.
Through the loan, she will get all the farm inputs she needs to grow rice in their fields.
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.