Marilou A. is from the village of Maribucao, Gingoog City. She is 38 years old. Marilou is married and has 2 school-aged children. To make a living, Marilou owns and operates a business venture in the food sector making and selling food. The main source of income for the business comes from making and selling snacks and other delicacies like rice and cheese cakes in the local community. She is also buying and selling coconuts for copras. Marilou has been engaged in her business for over 2 years and earns approximately 9,000 PHP a month for these activities.
In 2009, Marilou joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marilou has successfully repaid a previous loan of 11,000 PHP from HSPFI. This previous loan was used to purchase additional inventory and increase working capital. Marilou is requesting a new loan of 15,000 PHP, which will be used to purchase raw ingredients needed to make products for sale. This loan will be the 4th loan taken out by Marilou from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her 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.