Lolita C. is from the village of Capayangan, Banisilan, South Cotabato. She is 25 years old. Lolita is married and has 3 very young children. To make a living, Lolita 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. Lolita has been engaged in her business for over 2 years and earns approximately 8,000 PHP a month for these activities.
In 2009, Lolita joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Lolita has successfully repaid a previous loan of 7,000 PHP from HSPFI. This previous loan was used to purchase additional inventory and as working capital. Lolita is requesting a new loan of 10,000 PHP which will be used to purchase additional products to sell. This will be the 3rd loan taken out by Lolita from HSPFI. She plans to use the additional revenue generated from the business to supplement the income of the family.
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.