Stephanie, 25 years of age, is married and blessed with three children. She has operated a food vending business for almost one year, earning a net income of PHP 500 daily. Her profits are usually spent on school allowances for her children. Due to lack of capital, Stephanie would like to take out a loan of PHP 8,000 to purchase vegetables and frozen foods to sell. She's hoping that her requested loan will be granted so that she can improve her business to earn more income.
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.