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Teresa
Teresa is in the food vending business. She sells frozen foods in their community where she earns Php 5,000 a month. To add to her income, her husband is engaged in the farming business. Though both of them do have a livelihood, their income is not enough cover the everyday expenses of their five children and household expenses as well.

Teresa is asking for a Php 15,000 loan from KIVA lenders for the tuition fee of her daughter, Mylene, who is a 2nd year student. Teresa and Mylene hope that the lenders will approve this loan for they believe that it will definitely help Mylene to have a successful career.

Additional Information

More information about this loan

This loan is part of ASKI’s effort to provide capital for low-income students to access higher education. ASKI has designed two loan products intended to fulfill different needs. This loan product covers tuition fees and allowances for an entire educational program. The repayment term for the latter loans will typically be longer – up to 8 years. Students begin repaying their loans once they graduate. 
 
By funding this loan, you are giving students access to higher education under flexible terms that will fit their needs.

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.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

About Philippines

  • $1175
    Average annual income
  • 1157
    View loans »
    Philippines Loans Fundraising
  • $54,677,625
    Funds lent in using Kiva
  • 43.5
    Philippines Pesos (PHP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $350 helped Teresa to pay the tution fee of her daughter.
90% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 13, 2014
Listed
Jul 10, 2014
Currency Exchange Loss:
Possible