Ricardo is 43 years old and a married man, who has four children. The family peacefully lives at Padul. They are rice growers in their village, and growing rice is the family's main source of income. From the two-hectare rice field, they have been able to gain 20,000 PHP during each harvest season (twice a year). Ricardo is paying for matriculation fees and for daily allowances, required for his children to go to school. He would have liked to ensure good harvests, but has had insufficient funds until now. That is why he is asking for additional capital of 30,000 PHP to buy fertilizers and pay for labor costs of his farming. The additional profit generated will be invested for education, or saved for future expenses of the family.
Ricardo hopes be a successful farmer.
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.