Luzviminda E. is from the village of Marabulig One, Cauayan City,Isabela. She is 44 years old, married and has six school-aged children. To make a living, Luzviminda owns a general store and she sells lots of beverages. Luzviminda has been in business for over 30 years and earns approximately 4,000 PHP a month.
In 2008, Luzviminda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Luzviminda is requesting a new loan of 20000 PHP to purchase new items to expand her product offerings. This will be the third loan taken out by Luzviminda from ASKI. She plans to use the additional revenue generated to improve and expand her business.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly of farmers, fisherfolks and small entrepreneurs.
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.