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Marvic
Marvic M. is from the town of Mambajao, Camiguin. He is 30 years old. Marvic is widowed and has 3 infant-aged children.


To make a living, Marvic operates a computer services business for local community members. Marvic also runs a t-shirt printing business.


Marvic joined HSPFI to help improve his living situation and ability to engage in business activities. Marvic successfully repaid his first loan of 5000 PHP from HSPFI.which he invested in expanding his business.


Marvic is requesting his second loan from HSPFI, for 8000 PHP, to use as working capital and to purchase additional inventory.


He plans to use the additional revenue generated from the business to save as a reserve for future emergencies.

About HSPFI


HSPFI is an accredited partner of Opportunity International in the Philippines. It is based in Cagayan de Oro City and reaches 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, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Hagdan Sa Pag-uswag Foundation, Inc.

Hagdan Sa Pag-uswag Foundation, Inc. (HSPFI) is a non-governmental development organization founded in 1987 to promote Christian values through microfinance services in the Philippines. It partners with Opportunity International and the Mindanao Microfinance Council among others, and offers a range of business and community development services, including savings and insurance programs in addition to lending.

About Philippines

  • $7,000
    Average annual income
  • 1227
    View loans »
    Philippines Loans Fundraising
  • $57,777,750
    Funds lent in using Kiva
  • 46.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $175 helped Marvic to purchase additional inventory & as working capital.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 23, 2009
Listed
Nov 19, 2009
Currency Exchange Loss:
Covered
Ended:
Apr 15, 2010