Josefina D. is from the village of Lumbia, Cagayan de Oro City. She is 44 years old, married, and has two school-aged children. To make a living, Josefina operates a service-based business, providing boarding houses and rooms for rent to students and mall employees. She has been engaged in her business for over ten years and earns approximately $350 a month from these activities.
In 2006, Josefina joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 26,000 PHP from HSPFI. This previous loan was used to purchase materials needed to renovate some rooms.
Josefina is requesting a new loan of 30,000 PHP which will be used to invest in renovations. She wants to renovate gradually and beautify her boarding house so as to attract more boarders. This will be her 9th loan from HSPFI. She plans to use the additional revenue generated to continue to improve 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.