Ireneo is 55 years old, married and living with his family in a rural community. He is a farmer who has cultivated his farmland by planting rice for almost 30 years. Being a responsible father, he aims to improve his livelihood in order to fulfill the daily needs of his family, especially to support the education of his four children.
To this end, he wanted to expand his rice farming business in order to increase his yields and income. Due to insufficient capital, he is requesting a loan of PHP50,000 that he will use to buy fertilizers, pesticides and to pay labor costs during land preparation. He is hoping that the loan will be granted for his business to become more progressive.
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.