Policarpio, 56 years old, chose to be single. He owns and manages a rice farming business to earn a living and support some of his brothers and sisters in their financial needs. He has been a farmer for almost 28 years and usually earns a profits of PHP 23,000 every harvest season.
Policarpio plans to increase his yields and income to renovate their house and save for future emergencies. But due to inadequate capital, he is asking for a loan of PHP 20,000 to buy the needed agricultural supplies, such as fertilizers and pesticides, to ensure a high production. Policarpio believes that he will be able to increase his yields and income as he continues to work hard and make improvements to his business.
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.