Romel B. is from the village of Crossing Lumbia Airport, Cagayan de Oro. He is 24 years old. Romel is single. To make a living, Romel owns & operates a business venture in the retail business sector. While not the only means for generating revenue, the main source of income for the business comes from both food and daily use products in the local community. Romel has been engaged in his business for over 2 years and earns approximately 5000 PHP a month for these activities.
In 2009, Romel joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Romel has successfully repaid a previous loan of 8,000 PHP from HSPFI. This previous loan was used to purchase additional inventory and working capital. Romel is requesting a new loan of 11,000 PHP which will be used to invest in expanding the business. This will be the 3rd loan taken out by Romel 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.