Ric M. is from the village of Ilaya, Balulang, Cagayan De Oro City. He is 28 years old. Ric is married. To make a living, Ric owns & operates a specialized retail business. While not the only means for generating revenue, the main source of income for the business comes primarily from selling "balot," a special kind of nutritious Filipino delicacy. Ric has been engaged in his business for over 1 year and earns approximately 2,800 PHP a month for these activities.
In 2010, Ric joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Ric is requesting a loan of 5000 PHP which will be used to purchase additional products to sell. This will be the 1st loan taken out by Ric from HSPFI. He plans to use the additional revenue generated from the business to improve/expand his business.
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, 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.