Gerson S. is from the village of Camiguin Province. He is 22 years old. Gerson is married and has one infant-aged child. To make a living, Gerson owns and operates a business venture in the services sector operating a service-based business. While not the only means for generating revenue, the main source of income for the business comes primarily from providing motorcycle services used to transport local community members. Gerson has been engaged in his business for over 3 years and earns approximately PHP 5,000 a month for these activities.
In 2009, Gerson joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Gerson has successfully repaid a previous loan of PHP 7,000 from HSPFI. This previous loan was used to to repair a transport vehicle used in the business. Gerson is requesting a new loan of PHP 10,000, which will be used to invest in expanding the business. This loan will be the 3rd loan taken out by Gerson from HSPFI. He plans to use the additional revenue generated from the business to improve/expand the borrower's business.
HSPFI is one of 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.
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.