Misael is 37 years of age and married with three children. According to Misael, farming is the primary source of income for people within his local community. As the crop season starts this month, he and his wife plan to prepare and cultivate the farm plot he manages so he can keep his business profitable.
The income Misael gained from farming has been used in raising hogs. He is thankful because it's been one year since he has run this kind of business. Now, he has raised four hogs to be fattened for sale. Misael's wife is a store owner. He is really grateful because his wife is supportive in generating funds to have a better way of living and a viable source of income.
Misael would like to buy hog feed, but his capital intended for hog raising was used in preparing his one hectare of corn field. So, he decided to borrow additional working capital in the amount of PHP 35,000. He will use this amount in buying hog feed and vitamins. He knows that using such livestock supplies, he could improve the weight of his hogs and keep them healthier to reach their optimum growth.
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.