Mario N. is from the village of Lower Lawan, Guinsiliban, Camiguin Province. He is 35 years old. Mario is married and has five school-aged children. To make a living, Mario owns and operates a specialized retail business. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling scrap metal, empty bottles, and other used products in the local community. Mario has been engaged in his business for more than two years and earns approximately 8,000 PHP a month for these activities.
In 2010, Mario joined HSPFI to gain access to financial services to help improve his living situation and his ability to engage in business activities. Mario is requesting a loan of 4,000 PHP, which will be used to purchase more scrap metal to sell and as additional working capital. This loan will be the first loan taken out by Mario from HSPFI. He plans to use the additional revenue generated from the business to support the education of his children.
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.