Santos is requesting a loan of PHP 40,000 (Philippine pesos). He is a farmer, 36 years old, married and a father of five. He cultivates a one-hectare plot of farmland, where he plants and harvests rice. He will use the said loan for his farming needs, like buying fertilizers, seed varieties, and pesticides, and for paying farm labor costs.
He has been 20 years doing this farming activity, and he dedicates his best effort in the business to his family’s welfare. According to Santos, he has a net profit of PHP 20,000 every harvest, and this was used for the repayment of his children’s tuition fees and school allowances.
Also, one of his projects where some of his net income goes is the gradual construction of their house. He believes that having this simple, yet happy life is a blessing from God.
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.