Noel is applying for a loan of PHP 5,000 to buy gasoline, spare parts and accessories needed for the maintenance of his motorcycle, which is used in his transport business. Through this loan, he believes that he will able to continue using his motorcycle and earn a better income. He is a responsible father living with his family in a rural community. He is 53 years old and has four children. Operating his motorcycle as a transport business is his activity to meet some of his family needs, while his wife manages their small variety store. He works hard to keep sending all their children to school, in order to earn degrees some day.
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.