Due to hardships in living, Maria buys and sells charcoal and frozen foods in her community to earn additional income. She is 56 years old and has three adult-age children. She aims to strengthen the business and make it profitable in order to generate sufficient income. Due to inadequate capital, she is asking for a loan of 10,000 Philippine pesos to buy additional stock of charcoal and frozen foods to sell. She believes that this loan will enable her to make more improvements in the business, and she is hoping that she will become financially stable 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.