Norma N. is from the village of Guinsiliban, Camiguin Province. She is 46 years old. Norma is married and has five adult children. To make a living, Norma runs a sari-sari (variety) retail shop. The main source of income for the business comes from selling both food and daily-use products. She also sells dried fish and some kinds of fruits. Norma has been engaged in her business for over three years and earns approximately 5,000 Philippine pesos a month for these activities.
In 2009, Norma joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Norma has successfully repaid a previous loan of 11,000 PHP from HSPFI, a Kiva partner. This previous loan was used to purchase additional products to sell. Norma is requesting a new loan of 12,000 PHP, which will be used to invest in expanding the business. This will be the fourth loan taken out by Norma from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her business.
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.
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.