In the future, Ricardo hopes to achieve healthy crops for additional profits and to save funds for the development of his farming business and overall welfare of his family. He is 55 years old and a farmer living in Alcala. He is married, and his wife also helps him in their farming business to create a progressive living. They had two grown up children. He usually gets a net income of PHP 15,000 each harvest season. He would like to increase his crop output but had insufficient capital, which is why he is borrowing a loan to buy fertilizers, insecticides and pesticides that he will use in farming.
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.