Rosario P. is from the village of Magsaysay. She is 52 years old. Rosario is married and has two school-aged children. To make a living, she raises chickens for sale. She has been engaged in her business for over two years and earns approximately $115 a month for these activities.
In 2006, Rosario joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 13,000 PHP from ASKI. This previous loan was used to invest in expanding the business.
Rosario is requesting a new loan of 13,000 PHP which will be used to purchase breeding livestock. This will be her 9th loan from ASKI. She plans to use the additional revenue generated to expand her business.
ASKI is one of the most successful micro-finance institutions in the Philippines. It has 38 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolk and small entrepreneurs.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
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.