Elena, 42 years of age, is married to a carpenter and blessed with six children. She's into food market sales, specifically frozen foods, which she has been selling for almost five years. This earns her a net income of PHP 1,000 weekly. Her net profits are usually spent on the family's food expenses.
Due to lack of capital to run her business, she would like to receive a loan amounting to PHP 10,000 to purchase frozen foods to sell such as cured sausages, hotdogs, and cured pork. She's hoping that her requested loan will be granted so that she will be able to improve her business in order 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.