Carmelita runs a general store where there are a number of competitors within her local community. She would like to have a complete set of merchandise to compete with the other general stores. The capital intended for her general store is not sufficient due to an increased expense of her hog raising business and the maintenance of her corn field.
Therefore, Carmelita is requesting a loan for 10,000 PHP, which she will use to buy necessary merchandise. With the loan, her profits will increase, which will enable her to send her two children to a higher level of education and to save for emergency purposes.
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.