Herminio is the father of three children. He is married to Grace who works in a direct-selling business. Her eldest son has finished secondary education while the second child is out of school and the youngest is still studying.
Herminio owns a farm, where he grows rice. Aside from farming, Herminio is also involved in transportation, particularly motorcycle transport. He is grateful because the income generated from his farming and transportation business pays for their household expenditures, allowances, school fees and other obligations to traders where he gets his farm supplies. Herminio has maintained his good track record since he started borrowing additional working capital from ASKI. He has paid back his previous loan. Now he is asking for another loan in the amount of P37,000 which will be used to buy farm supplies and pay for the irrigation of his rice field. He hopes that he can gain a plentiful harvest during this next crop season to be able to obtain greater profits which will serve his family's needs.
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.