Timoteo P., age 49, tends and raises livestock. He raises pigs for fattening and sale. Timoteo has been engaged in his business for over seven years and earns approximately 12,000 PHP every four months. He is from the village of Baracbac Sta. Fe, Nueva Vizcaya. He and his wife have four school-aged children.
Timoteo has just recently joined ASKI in the hopes of gaining access to financial services. He wants to help improve his family's living situation and increase his ability to engage in business activities. Timoteo is requesting his first loan from ASKI in the amount of 10,000 PHP which will be used to purchase livestock feed and other supplies. He plans to use the additional revenue generated from the business to financially support immediate members of his family.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 38 branches covering the central and northeastern areas. Its clients are mostly farmers, fisherfolk, and small business 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.