Lydia has three children. She is now 51 years old and has a farming business to sustain her family. The couple plant and harvest rice to sell. They also pay additional laborers who help them in their farming business.
Lydia hopes for plentiful harvest this next crop season, but she has insufficient capital, that is why she is now borrowing a loan of PHP 40,000 to invest in her farming business. She will buy fertilizers and pay labor cost for farming.
She promises to pay back her loan in full, and she's hoping to keep her crop production productive in order to save funds for her family's future expenses.
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.