Francisco Ave

Status: Paid Back

$175.00		Loan Request
$175.00		Paid Back

About the Entrepreneur

Name:	Francisco Ave
Location:	Scions, Canitoan, Cagayan De Oro City, Philippines
Activity:	Cement

About the Loan

Loan Amount:	$175.00
Loan Use:	to purchase sand, gravel and cement for hollow block fabrication
Repayment Term:	7 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Feb 16, 2009
Date Disbursed:	Feb 12, 2009
Date Funded:	Feb 16, 2009
Loan Ended:	Jul 15, 2009

About the Field Partner

Field Partner:

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

Field Partner Risk Rating:

(Learn more)

Active

9 months

1856

$316,550

0.00%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Philippines
Avg Annual Income:	$1,175.00
Currency:	Philippines Pesos (PHP)
Exchange Rate:	47.1450 PHP = 1 USD

Francisco Ave Jr., 40, married with 3 children, and a resident of Tambo, Carmen, Cagayan De Oro City is currently engaged in cement hollow-block making. His business is located in another village which is about 5 kms. from his residence. He started his business with a partner before but unfortunately, the business failed. With his strong desire to revive the business, Francisco used his skills, expertise, and effort to make such business back in operation -- this time on his own. He joined the HSPFI microfinance program and was granted a first loan amounting to PHP 5,000 to procure materials needed for hollow-block fabrication. Due to increasing demand for his products, he needs an additional loan of PHP 8,000 loan to purchase sand, gravel and cement in order to make his business more competitive in the market.

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

Lenders to this entrepreneur

Rico
Dasmarinas, Cavite
Philippines

Omar
Aliso Viejo, CA
United States

Tore Brevik
Valsøybotn,
Norway

Steve and Beth
Greeneville, TN
United States

Top Lending Teams for this entrepreneur

none of the above
Common Interest
106 Members

Philippines
Local Area
130 Members

Journal entries for Francisco Ave

Loan has been disbursed Entrepreneur: Francisco Ave Location: Scions, Canitoan, Cagayan De Oro City, Philippines Thank you for your loan. It has been disbursed to Francisco Ave 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 Scions, Canitoan, Cagayan De Oro City, Philippines Feb 17, 2009
Comment on this entry

Loan Updates Entrepreneur: Francisco Ave Location: Scions, Canitoan, Cagayan De Oro City, Philippines The PHP 8000 loan was a big help for Francisco and his family as his income increases because he was able to purchase more materials needed for his hollow-block business such as sand, gravel and cement. He would like to extend his gratitude to the lenders for their help in financing his business because the production of his hollow blocks increases and now he is able to meet the demands of his customers.
Posted by James Earl Gabule from Scions, Canitoan, Cagayan De Oro City, Philippines Mar 11, 2009
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Loan Update Entrepreneur: Francisco Ave Location: Scions, Canitoan, Cagayan De Oro City, Philippines Francisco Ave is sending his deepest appreciation to all the lenders all over the world who made help to his business. His business is doing good, he able to support the needs of his family and pay for his obligation. Daghang Salamat!
Posted by Ma. Soccoro Gumban from Scions, Canitoan, Cagayan De Oro City, Philippines May 14, 2009
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Francisco Ave is NOT Delinquent! Entrepreneur: Francisco Ave Location: Scions, Canitoan, Cagayan De Oro City, Philippines Contrary to what is displayed on his profile, Francisco Ave is not delinquent in his payments. I had the opportunity of visiting him in his worksite last week as part of my Borrower Verification Visit. From the amount of P8,000 he borrowed, he has already paid up P6,400 and he expects to pay the loan amount in full by end of June. His payment has likewise been reported and remitted to Kiva. He is looking forward to a subsequent loan by July which he will use to put up a variety store near his worksite. He will be targetting the laborers of the neighboring businesses in the area.
Posted by Elrico Muñoz, Kiva Staff, from San Francisco, United States Jun 4, 2009
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loan ended Entrepreneur: Francisco Ave Location: Scions, Canitoan, Cagayan De Oro City, Philippines Francisco Ave is a good partner of HSPFI-KIVA . Francisco paid off his loan from the organization and able to apply for much higher amount. Francisco wants to send his heartfelt appreciation to all the KIVA lenders. According to Francisco the program of the organization brought him the idea of what is business. He is responsible enough handling his business and aiming for expansion indulging another business type. Daghang Salamat and More Power!!!
Posted by Ma. Soccoro Gumban from Scions, Canitoan, Cagayan De Oro City, Philippines Jul 24, 2009
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Repayment Schedule for Francisco Ave

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	Expected Repayments	Actual Repayments	Comments
April 2009	$17.50	$17.50	Repayment Received
May 2009	$35.00	$35.00	Repayment Received
June 2009	$43.75	$43.70	Repayment Received
July 2009	$35.00	$43.75	Repayment Received
August 2009	$35.00	$35.05	Repayment Received
September 2009	$8.75	$0.00	Repayment Received