Irene manages a general store business in her village of Antagan. Having a PHP 8,000 revolving capital in the business is lacking, thus she is requesting a loan of PHP 18,000 to buy more goods to offer like rice, canned goods, seasonings, and more. She also would like to add other products, like buying frozen foods to retail. Her income from retailing went toward the feed maintenance of her hog-raising business, which is her other source of income.
Her husband, on the other hand, served as an on-call carpenter and also operates a motorcycle transport when not in the carpentry job. She is already 32 years old and a mother of two school-aged children in the elementary level. She is so patient in managing her business from 4:30 in the morning till 8:30 in the evening.
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.