Due to hardships of life, Milagros engages herself in selling grocery items in her village to generate additional income. She is now 50 years old and has four children, three of whom have already graduated from college while the youngest is still in college. Despite this financial difficulty, she wants to improve their status of living and continue sending her youngest child to earn a degree.
Milagros aimed to increase her product offerings to satisfy her customers' demand, but due to insufficient capital, she is asking for an additional P22,000 to buy additional stocks of soft drinks, junk food, noodles, canned goods, detergent soaps, beverages and fish sauce to sell in her store. She believes that her loan will be a great help for her to make an improvement in her business and she hopes that she will become successful in the future.
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.