Karen is 33 years old and blessed with two children. She is a single parent and working hard to provide for the needs of her children. To sustain their daily needs, she operates a store, selling grocery items and school supplies, and she manages a laundry shop business, too. She generates an average of PHP 20,000 each month and uses it as rolling capital in her businesses, and to pay school expenses and cover daily household expenses.
She hopes to keep improving her business to generate a better income. This led her to borrow PHP 20,000 to buy a variety of merchandise for her store, such as biscuits, cup noodles, sardines and laundry soap. She wants to have more customers and she extends good products and services. She is doing her best for the future of her family.
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.