Marianita C. is from the village of Tagoloan, Misamis Oriental. She is 58 years-old and a widow with three adult children. Marianita owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling seafood products such as fish and shrimp in the local community. Marianita has been engaged in her business for over ten years and earns approximately 5,000 PHP a month.
In 2008, Marianita joined Kiva partner HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marianita has successfully repaid a previous loan of 8,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell. Marianita is requesting a new loan of 11,000 PHP which will be used to invest in expanding the business. This loan will be the third loan taken out by Marianita from HSPFI. She plans to use the additional revenue generated to improve and 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.