To make a living, Teofila P. runs a sari-sari (variety retail shop) selling both food and daily use products in her community. She is 57 years old, married and has six school-age children. They are from the village of Maputi, Naawan, Misamis Oriental. Teofila has been in her business for over six years and earns approximately 6,000 Philippine pesos (PHP) a month.
In 2010, Teofila joined HSPFI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Teofila has successfully repaid a previous loan of 5,000 PHP from HSPFI which was used to purchase products to sell. Teofila is requesting a new loan of 8,000 PHP which will be used to purchase additional inventory and for working capital. This will be her second loan from HSPFI. She plans to use the additional revenue 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 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.