Leonardo P. is from the village of Villa Verde, Balulang, Cagayan de Oro City. He is 40 years old. Leonardo is separated from his spouse and has 3 school-aged children. To make a living, Leonardo owns & operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling seafood products including fish, like sardines and mackerel, and also shrimp in the local community. Leonardo has been engaged in his business for over 4 years and earns approximately 10000 PHP a month for these activities.
In 2010, Leonardo joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Leonardo has successfully repaid a previous loan of 8000 PHP from HSPFI. This previous loan was used to to purchase additional fishes to buy and sell. Leonardo is requesting a new loan of 11000 PHP which will be used to purchase additional inventory & working capital. This loan will be the 3rd loan taken out by Leonardo from HSPFI. He plans to use the additional revenue generated from the business to improve/expand his 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.