Miraflor is a fruit vendor particularly selling bananas. She buys them at a wholesale price and re-sells them at retail. She is 35 years old, married and has two children. Her spouse works abroad. The couple works hard to earn an income for the education of their children.
Miraflor is now asking for a loan of PHP 35,000 to buy more bananas to sell. It will add to her capital and allow her to develop her small business.
Some day, with good sales and income, Miraflor will be able to save funds for education and future expenses of the family.
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.