Abelardo, 58 years old, farms rice to sustain his family's daily needs. His family serves as his motivation in pursuing his goal of greater crop production. He plants and harvests rice twice a year, earning about PHP20,000 every harvest.
Abelardo would like to increase his income and so is requesting this loan to buy fertilizers and insecticides. These purchases will ensure his crops' good growth and nutrition, leading to a higher yield. If approved, Abelardo promises to pay back the loan after the harvest.
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.