Mercy Abang


Status: Paying Back

$100.00   Loan Amount
50% repaid

About the Entrepreneur

Name: Mercy Abang
Location: Camiguin , Province, Philippines
Activity: Food Production/Sales

About the Loan

Loan Amount: $100.00
Loan Use: To purchase additional products to sell.
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 11, 2009
Date Disbursed: Aug 20, 2009
Date Funded:Sep 11, 2009

About the Country

Country:Philippines
Avg Annual Income:$1,175.00
Currency:Philippines Pesos (PHP)
Exchange Rate:48.4027 PHP = 1 USD



Mercy Abang is from the village of Mambajao, Camiguin. She is 31 years old. Mercy is married with 5 school-aged children. To make a living, Mercy owns and operates a business venture in the food sector making and selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling specialty food products in the local community. Mercy has been engaged in her business for over 3 years and earns approximately 3000 PHP a month from these activities.

In 2009, Mercy joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mercy is requesting a new loan of 4000 PHP which will be used to purchase additional products to sell. This loan will be the 1st loan taken out by Mercy from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her business.

About HSPFI:

HSPFI is one of the accredited partners of Opportunity International in the Philippines. It is based in Cagayan de Oro City and is reaching out to the poor households of Northern Mindanao.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, we created this template for our field staff to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.



Important Information About This Loan
To join the HSPFI Lending Team please click on the link: http://www.kiva.org/team/hspfi

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Lenders to this entrepreneur

Daniel
Greenbrier, AR
United States

Steven
Victoria, British Columbia
Canada

HSo
Markham, Ontario
Canada

Catherine
santa monica, CA
United States



Top Lending Teams for this entrepreneur


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Journal entries for Mercy Abang


Loan has been disbursed
 
Entrepreneur: Mercy Abang
Location: Camiguin , Province, Philippines

Thank you for your loan. It has been disbursed to Mercy Abang by Hagdan sa Pag-uswag Foundation, Inc. (HSPFI) in Philippines. We are excited to watch this business grow. Over the 4 months of this loan, Hagdan sa Pag-uswag Foundation, Inc. (HSPFI) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Camiguin , Province, Philippines
Sep 12, 2009
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Loan Update
 
Entrepreneur: Mercy Abang
Location: Camiguin , Province, Philippines

We found Ms. Mercy Abang at her center meeting, where she and many other mothers cradled their babies as we went around in a circle interviewing all the members. Mercy used the disbursed loan on her food business, buying and selling longaniza (pork sausage), eggs, dried fish, and chorizo. She lets her customers buy on credit, which is good for one month. If she can collect all the payments due to her in credits, she estimated that she makes between P3,000 and P5,000 in a month. Her usual customers include her neighbors, friends, and extended family. She makes sure every week that she can pay her loan obligations to HSPFI.

Going forward, Mercy would like to gain more capital so she can purchase more items and increase her business inventory. She said that the loan really helped with her business and her family's daily expenses, and expressed her thanks for the loan.

To learn more about the partner MFI that's supporting this entrepreneur, visit HSPFI's Kiva Field Partner page (http://bit.ly/gG7z7). You can also support HSPFI through lending (http://bit.ly/1CCiG3), or by joining the HSPFI lending team (http://www.kiva.org/team/hspfi)!


Posted by Eva Wu from Camiguin , Province, Philippines
Nov 11, 2009
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Kiva Help Repayment Schedule for Mercy Abang

  Expected Repayments Actual Repayments Comments
November 2009 $30.00 $30.00 Repayment Received
December 2009 $20.00 $20.00 Repayment Received
January 2010 $20.00 Available Jan 1  
February 2010 $30.00 Available Feb 1