Joseph M. is from the village of Omonay, Damulog, Bukidnon. He is 39 years old. Joseph is married and has a child. To make a living, Joseph 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. He is also raising and selling pigs. Joseph has been engaged in his business for over three years and earns approximately 10,000 Philippines pesos (PHP) a month from it.
In 2008, Joseph joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Joseph 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.
Joseph is requesting a new loan of 21,000 PHP, which will be used to purchase additional products to sell, like canned goods and snack foods, and as working capital. This will be the seventh loan taken out by Joseph 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.