Benito grows rice crops on his two hectares of farm land. He is 52 years old, married and has three children. One of his children is married. His second child is an overseas Filipino worker and his youngest is still studying.
Benito's wife is a city aid in Santiago. According to Benito, he started cultivating his farm in 1980. For long periods of time, devoted by Benito in his rice field, he has been able to sustain his family's basic needs, send his three children to school and improve their financial stability. Benito is now happy to see that the fruit of his sacrifices and perseverance improves their lives. He and his wife are not yet satisfied with their business career so he is asking for additional capital amounting to 20,000 Philippine pesos (PHP). This loan amount will be used to buy fertilizer and some of the amount will be used to pay for land preparation of his rice field. Benito hopes to obtain his requested loan amount in order to have a viable source of income and allow his youngest child to finish his studies.
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.