Genie is a housewife and a small entreprenuer who lives in Cataggaman with her spouse and children. She has three adult children who have their own employment now but still live with her and her husband. Instead of lazing at home, Genie has opened a specialized store selling books, magazines and other reading materials. Her hobby is to read books and she is very happy to have this type of business.
Genie usually earns about PHP 15,000 each month and uses this for daily meals and monthly electricity bills. Other parts of her income are also used to reinvest in the business. Genie would like to buy more books, magazines and encyclopedias to re-sell for profit and is therefore asking for a loan of PHP 50,000. This will help to increase her sales and earn additional revenue. Someday, Genie hopes to establish a larger store with convenient shelves to display her books.
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.