Efren is applying for a new loan because he needs to invest more money in the production of basic foods. This will allow him to buy agricultural supplies such as compost, pesticide, herbicide, and insecticide, among other items. With his previous loan, his income increased, and he invested it in household expenses. His economic condition improved, thanks to the loan that Kiva granted him.
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.