Renato A. is from the village of Capt. Vicente Roa St., Cagayan De Oro City. He is 44 years-old. He is separated from his spouse and has four adult children. Renato owns and operates a specialized retail business seling motor and car accessories including car aircondition parts and supplies in the local community. Renato has been engaged in his business for over six years and earns approximately 6,000 PHP a month.
In 2009, Renato joined Kiva partner HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Renato has successfully repaid a previous loan of 8,000 PHP from HSPFI. Renato is requesting a new loan of 10,000 PHP which will be used to invest in expanding the business. This loan will be the third loan taken out by Renato from HSPFI. He plans to use the additional revenue generated from the business to improve and expand his 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.