Edna is aged 58, married to a carpenter, and blessed with eight children. She has been cooking and selling rice cakes in their village for almost fifteen years and earning a net income of 675 PHP daily. Her net profits are usually spent on their daily food expenses. Due to lack of capital she would like to obtain a loan of 11,000 PHP to purchase sugar, cooking oil, and coconut to use for rice cake vending. She is hoping that her business will continue to grow and earn more income.
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.