Conchita, a 58-year-old mother, aimed to improve her small variety store in order to increase her income. She has been operating the business for almost one year and usually earns a profit of only 4,000 PHP a month. As a result, she planned to increase her product offerings in order to satisfy her customers’ demand. Due to inadequate capital, she is asking for an additional loan of 7,000 PHP to buy stocks of items to sell (soft drinks, canned goods, snack foods, dried fish, beverages, seasonings, and vegetables). She believes that her loan will help her to improve the business and she hopes that she will be successful in the future.
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.