Ferdinand, age 59, is married and blessed with four children. He has been in the farming business for almost twenty-eight years and earned a net income of approximately 30,000 PHP last harvest season. His income was spent on the hospitalization of his wife who is ill due to a cerebrovascular attack (CVA) (stroke).
Due to a lack of capital to use in his farming business, he would like to take out a loan amounting to 50,000 PHP to purchase farm supplies such as fertilizers, seedlings and insecticides. He's hoping that his requested loan will be granted so that he can utilize it immediately in his farming activity.
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.