Ricardo is 53 years old and now a widower. He lives in a rural community with his two children. Aside from farming, he also runs a small variety store to generate additional income. He has aimed to improve his family’s standard of living to give his children a bright future. He planned to improve his variety store by increasing his product offerings but due to insufficient capital, he is asking for an additional loan of PHP 15,000 to buy more stock of soft drinks, snack foods, canned goods, noodles, eggs, beverages and seasonings to sell. He believes that someday he will improve his business as he continues to work hard at it.
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.