Florencia manages a sari-sari store business from which she sells a variety of goods in her village. She is selling products like soap, shampoo, spices, breads and drinks. She has been doing this type of business for almost 6 years. Her profit from the business has served as allowances for her two children from the time she has sent them to school.
Florencia observed that the items of goods she buys in the market did not satisfy the demands of her costumers. She doesn’t have enough capital to buy the volume of goods able to satisfy her costumers' needs. In this connection, Florencia wishes for a loan of 30,000 PHP to buy additional spices, drinks and soap to sell in her village. She believes that through the loan, she will gain higher income from the 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.