Vergilio is a 25-year-old married man living in the village of Bugallon Proper Ramon. He earns a living by running a general store, which he has had for one year. From this business alone, he is able to generate an income of 20,000 PHP per month, which he uses to meet his family's daily needs.
Vergilio would like to take a loan of 50,000 PHP to buy a greater variety and greater quantity of basic goods such as assorted biscuits, canned goods, cooking ingredients, soft drinks, instant noodles, oils, eggs, milk, sugar and candies for his general store. He is hoping that this will enable him to meet the needs of his customers and attract additional customers to his store. With the requested loan he hopes to be able to generate a bigger income, save some and improve his family's living conditions. Vergilio will be glad if his loan request is granted.
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.