Lorna Q., age 50, is from the village of Kabatangan, Wao, Lanao del Sur. Lorna is married and has nine adult-aged children. To make a living, Lorna owns and operates a specialized retail store, where she sells ready-to-wear clothing and shoes in the local community. Lorna has been engaged in her business for over four years and earns approximately 15,000 PHP a month from these activities.
In 2009, Lorna joined HSPFI to gain access to financial services to help improve her living situation and increase her ability to engage in business activities. Lorna has successfully repaid a previous loan of 8,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell as well as being implemented as working capital. Lorna is now requesting a new loan of 10,000 PHP, which will be used to purchase additional products to sell. This will be the fourth loan taken out by Lorna from HSPFI. She plans to use the additional revenue generated from the business to improve and expand her business.
HSPFI is one of the accredited partners 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.