Merelyn, 26 years of age and married, has owned and operated a retail store in their village for almost six years, earning a net income of Php 700 daily. She is requesting a loan of Php 15,000 to purchase spices, condiments, sugar, coffee, and beverages to sell. Merelyn is hoping that her loan request will be granted so that she can easily improve and expand her store.
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.