Jimmy B. is from the village of Tumpagon, Cagayan de Oro City. He is 24 years old, married, and has one infant child. To make a living, Jimmy provides transport services to local community members using his own motorcycle. He has been engaged in his business for over a year and earns approximately $153 a month from this activity.
In 2008, Jimmy joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. He has successfully repaid a previous loan of 14,000 PHP from HSPFI. This previous loan was used to repair a transport vehicle used in the business and part of the loan was used to pay the monthly amortization of his motorcycle.
Jimmy is requesting a new loan of 17,000 PHP which will be used to purchase materials needed to expand the services he provides. He wants to put an extension on his motorcycle in order to transport more passengers from their village down to the city. This will be his 5th loan from HSPFI. He plans to use the additional revenue generated from the business to supplement the income of his family.
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.