Reynaldo is forty-two years old, married, and has five children. His wife's business is raising hogs to sell. Reynaldo is in the rice farming business. He has been planting and harvesting rice to sell for almost fifteen years. Reynaldo and his wife earns about PHP 15,000 a month from their businesses. They still aim for business growth.
With this objective, Reynaldo is borrowing a loan of PHP 15,000 to buy fertilizers, insecticides and rice seeds to grow. With proper maintenance of the business, Reynaldo is confident that someday he will achieve an abundant harvest which will pay for his children's education expenses.
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.