Myrna is selling various grocery items like biscuits, junk food and spices in her village. Sometimes, she also sells milk and fish for additional profit. She has been in this business for 15 years, while her husband operates their transport service. The couple are also into farming, where income generated from this is seasonal.
Myrna's eldest child has successfully finished the tertiary level of education, due to their hard work in their business. She wishes the same for her youngest child - that she will also finish college. Myrna keeps on managing her retailing business to provide for her childrens' needs, especially her youngest one. It would be helpful for her to gain higher income if she is able to expand the products that she sells. Therefore, she is borrowing the amount of PHP 35,000 to buy meat, fruit and grocery items to sell.
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.