Esmeralda, 57 years of age, is widowed and has four children. She has run a retail business particularly selling grocery items and food for almost twelve years; she earns a net income of 300 daily. Esmeralda also sells cooked foods for daily meals for additional income. Her profits are spent on their daily expenditures such as food expense and electric bills. Her profits are not enough to purchase more commodities to sell so she decided to request a loan amounting of 40,000 PHP to purchase canned goods, beverages, biscuits, noodles, and candies to sell. She's hoping that her business will continue to expand and continue earning profits.
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.