Mercy is 56 years of age, married, and blessed with four children. She has owned and managed a retail store for home products for almost twenty years. With this business she's earning a net income of PHP 5,000, and she has saved her income for future emergencies. Due to financial constraints, she would like to request a loan amounting to PHP 50,000 to purchase kitchen utensils and home appliances to sell. She's hoping that her requested loan will be granted so that she can be able to improve and expand 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.