Arsenio D. is from the village of Manila Group, Wao, Lanao del Sur. He is 53 years old. Arsenio is married and has 6 adult children. To make a living, Arsenio owns & operates a business venture in the retail sector operating a specialized retail store. The main source of income for the business comes primarily from buying and selling of vegetables with his wife working together in the local community. Arsenio has been engaged in his business for over 10 years and earns approximately 9500 PHP a month for these activities.
In 2008, Arsenio joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Arsenio has successfully repaid a previous loan of 15000 PHP from HSPFI. This previous loan was used to to purchase additional vegetables to sell. Arsenio is requesting a new loan of 15000 PHP which will be used to purchase additional inventory & for working capital. This loan will be the 7th loan taken out by Arsenio from HSPFI. He plans to use the additional revenue generated from the business to improve/expand the borrower's business.
HSPFI is one of 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.