Elena and her retail business are doing well. She has had a convenience store for five years. She earns about PHP 300 a day. Elena is a widow. She works hard to raise her children.
Elena wants to re-stock her sari-sari (convenience) store, but she lacks the necessary capital. For this reason, she is taking out this loan amounting to PHP 40,000 to buy grocery items such as canned goods, beverages, detergent soap and condiments to sell. She hopes that she can obtain her desired loan to improve her business.
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.