Due to financial constraints, Mercedes engages in a vegetable selling business in order to help her husband generate income for the education of her three children. She has been in the business for almost two years and usually earns profits of P7,000.00 a month that she utilizes for their daily consumption and children's school allowances.
Due to the high cost of commodities and school fees, Mercedes need to increase her income to cover-up their necessities. In this regard, she planned to acquire more stock of vegetables to sell but she did not have enough capital. Therefore, she is asking for a loan of P15,000.00 in order to buy additional stock of onions, tomatoes, beans, ginger, potatoes, papaya and squash to sell. Through this financial assistance, she believes that she will improve the business and she hopes that someday she can make the business viable and profitable.
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.