Marcelinda T. is from the village of Talon, Gingoog City. She is 60 years old. Marcelinda is married and has 4 adult children. To make a living, Marcelinda owns & operates a sari-sari (variety) retail shop. The main source of income for the business comes from selling both food & daily use products in the local community. Marcelinda has been engaged in her business for over 3 years and earns approximately 5000 PHP a month for these activities.
In 2007, Marcelinda joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marcelinda has successfully repaid a previous loan of 15,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell. Marcelinda is requesting a new loan of 18,000 PHP which will be used to invest in expanding the business. This will be the 11th loan taken out by Marcelinda from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her 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.