Philippines > Hagdan sa Pag-uswag Foundation, Inc. (HSPFI)

About the Field Partner

Field Partner:	Hagdan sa Pag-uswag Foundation, Inc. (HSPFI)
Field Partner Risk Rating:	(Learn more)
Time On Kiva:	9 months
Kiva Entrepreneurs:	1847
Total Loans:	$313,875
Delinquency Rate:	0.00%
Default Rate:	0.00%
Currency Exchange Loss Rate:	0.00%
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Kiva Fundraising Status

Fundraising Status:	Active
Kiva Notes:
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Other Information Sources

MIX Profile:	View MIX Profile
Network Affiliation:	OI - Opportunity International
Social Performance Reporting Level:	N/A
Consumer Protection Principles:	N/A
Field Partner Website:	None
Email Contact:	hagdan@philcom.com

Hagdan sa Pag-uswag Foundation, Inc. (HSPFI) is a non-stock, non-government organization established on September 7, 1987 by a group of businessmen in Cagayan de Oro City through the initiative of Tulay sa Pag-unlad, Inc. (TSPI). It was registered with the Securities and Exchange Commission (SEC) on January 22, 1988, and officially started its microfinance operations on March 16, 1988.

HSPFI is a development organization promoting Christian values through its microfinance services. It is also engaged in capacity building, community development and transformation. It is one of the eleven partners in the Philippines under the banner of Alliance of Philippine Partners in Enterprise Development (APPEND), and one of the partners all over the world under the support of the Opportunity International (OI).

HSPFI has eight (8) branches spread out all over the provinces of the northern part of Mindanao. These branches are located in Cagayan de Oro City, Balingasag, and Gingoog City in Misamis Oriental; Iligan City in Lanao del Norte, and Valencia City and Don Carlos in the province of Bukidnon, Mambajao in the Province of Camiguin, and Wao in the Province of Lanao del Sur, which also serves part of the Province of North Cotabato. Its Head Office is in Cagayan de Oro City.

As of November 30, 2008, HSPFI has total active clients of 14,133 and total personnel complement of 64. It is a member of the Mindanao Microfinance Council, an organization of microfinance implementers in Mindanao, PhildHRRA, an organization of NGOs in the Philippines involved in advocacy programs like gender sensitivity, environment, social justice, health and education, and other advocacy programs. It has also linkages with government agencies and private institutions.

HSPFI was established through grants and donations in the late 1980s. Through the years, because of donor fatigue as we may say, it has been operating through loans from various foreign and local financial institutions. It is governed by a Board of Trustees who formulate the policies. These policies are being implemented by Management headed by the Executive Director.

As of November 30, 2008, total Fund Balance representing total equity stood at P 17.641 million, net of grant funds from TEAR Fund of New Zealand (approx. USD 0.37M). Total portfolio of the same period also stood at Php 53.823 million (USD 1.133 million). Total assets as of November 30, 2008 was at Php 92.316 million (USD 1.943 million).