Clemente, 61 years of age, is married and they are blessed with four children. He has been in the farming business for almost fifty years and earned a net income of 30,000 PHP last harvest season. His profits were spent on his hog raising business, for which he purchased hog feed and hogs to raise for additional income. Due to insufficient funds, Clemente would like to request a loan amounting to 30,000 PHP for his rice farming to purchase fertilizer, insecticide, and seedlings for his farm. He's hoping that his requested loan will be granted so that his business will become more profitable.
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.