Teresita B. is from the village of Bangahan, Pangantucan, Bukidnon. She is 55 years old. Teresita is married and has four adult children. To make a living, Teresita runs a sari-sari (variety) retail shop. The main source of income for the business comes from buying and selling daily-use products such as shampoo, soap, canned goods, snack foods and toothpaste. Teresita has been engaged in her business for over nine years and earns approximately 7,500 Philippines pesos (PHP) a month from it.
In 2008, 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 16,000 PHP from HSPFI. This previous loan was used to purchase additional inventory and as working capital.
Teresita is requesting a new loan of 20,000 PHP, which will be used to purchase additional products to sell, like canned goods and snack foods. This will be the sixth 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 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.