Rizalito D. is from the village of Tagdo, Mambajao, Camiguin Province. He is 41 years old. Rizalito is married and has 4 school-aged children. To make a living, Rizalito owns & operates a business venture in the retail sector running a sari-sari (variety) retail shop. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling daily use products such as shampoo, soap, canned goods & toothpaste in the local community. He is also operating a coconut grinding services. Rizalito has been engaged in his business for over 14 years and earns approximately 12000 PHP a month for these activities.
In 2008, Rizalito joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Rizalito has successfully repaid a previous loan of 13000 PHP from HSPFI. This previous loan was used to to purchase additional inventory & working capital. Rizalito is requesting a new loan of 13000 PHP which will be used to purchase additional products to sell like junk foods & canned goods. This loan will be the 5th loan taken out by Rizalito from HSPFI. He plans to use the additional revenue generated from the business to improve/expand the 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.