Donabel Mary dreams of becoming a successful business woman in the future. She is 43 years old, married, and has two school-aged children. Due to a lack of job opportunities, she engages in selling footwear and RTW in a public market. ("RTW" means ready-to-wear clothes.) She has been operating the business for almost two years and usually earns a profit of PHP 8,000 a month. She usually spends her profit for her family's daily consumption and the costs of sending her children to school.
Due to the high cost of commodities and school fees, she aims to strengthen her business to generate a higher income. But due to insufficient capital, she is asking for a loan of PHP 12,000 to buy additional stocks of sandals, slippers, shoes and RTW, to resell in her community. Despite competitors in the area, she believes that she can improve the business as she continues to work hard and strive harder.
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.