Nenitas’s goal in life is to lift her family out of poverty. She is 50 years old and blessed with three children. Nenita is married to Lauro, a farmer in their village. Nenita operates a small store in which she sells different products. She has been in this business for two years and earns 3,000 Philippines pesos (PHP) monthly. Profits earned are used for allowances and food, and serve as a revolving capital in the business.
Nenita's business needs additional products to sell such as canned goods, instant noodles, and beverages to increase her profits. She is now asking for a loan of 25,000 PHP to buy canned goods, bakery bread, sugar, coffee and other ingredients to sell.
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.