Teresa is 42 years old and married with five children. Two of her children are already married. For the past 20 years, Teresa has owned and operated a food vending business where she sells frozen foods, fish, and meat products. She also sells snacks in the mornings and afternoons in her village. Her annual income is 12,000 PHP. Teresa's husband currently works buying and selling hogs.
Teresa is requesting a 12,000 PHP loan to purchase food products to sell. She will use the profit from her loan for the education of her children and to provide for her family's daily expenditures.
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.