It is a big responsibility to be the head of the family. Melchor is 50 years of age and is married. His wife does direct selling of cosmetics, while Melchor operates his tricycle for passengers’ transportation. They are blessed with three children who they are currently sending to school. Melchor is also a barangay official in their village.
It is quite rare in the Philippines that a man is the one who will borrow a loan that will pay weekly amortizations, but Melchor doing this to make his tricycle comfortable transportation for his passengers. The couple wants to bring up their children and be able to send them to school until they finish their college level of education.
Melchor is looking for a loan of PHP 20,000 to buy tricycle wheels, tires and accessories for his tricycle. He hopes to beautify his tricycle and to increase his earnings from his tricycle.
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.