Marites is 30 years old and married to a farmer in the village where they are living. The couple is blessed with three school-aged children. To increase her family's household income, Marites has been engaged in her retail store business for almost two years and earns about 500 PHP daily.
Due to the high cost of basic commodities, she is requesting a loan of 25,000 PHP to buy additional stock items to sell, such as canned goods, biscuits, noodles and other ingredients. She hopes to increase her profits so that she can sustain the financial needs of the family and save money for the future. She believes that through her patience in managing her business she will be able to improve the family's standard of living.
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.