Teresita V. is from the village of Pagahan Initao, Misamis Oriental. She is 54 years old. Teresita is widowed and has 6 adult children. To make a living, Teresita owns & operates a business venture in the food sector running a bakeshop. While not the only means for generating revenue, the main source of income for the business comes from baking & selling a variety of staple products including bread in the local community. Teresita has been engaged in her business for over 8 years and earns approximately 10,000 PHP a month for these activities.
In 2010, Teresita joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita has successfully repaid a previous loan of 5000 PHP from HSPFI. This previous loan was used to to purchase additional cooking ingredients. Teresita is requesting a new loan of 8000 PHP which will be used to purchase additional cooking ingredients like flour. This will be the 2nd loan taken out by Teresita from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her business.
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.