Nelson A. is from the village of Purok Pisces Suarez, Iligan City. He is 59 years old. Nelson is married and has six adult children.
To make a living, Nelson owns and operates a business manufacturing and selling muriatic acid (a cleaning solution) products in several types of containers to local businesses and community members. Nelson has been engaged in his business for over five years and earns approximately 15,000 PHP a month for these activities.
In 2009, Nelson joined HSPFI to gain access to financial services to help improve his business and living situation. Nelson has successfully repaid a previous loan of 17,000 PHP from HSPFI. This previous loan was used to to purchase additional inventory and for working capital.
Nelson is requesting a new loan of 20,000 PHP, which will be used to purchase raw materials to manufacture additional products. This will be the sixth loan taken out by Nelson from HSPFI. He plans to use the additional revenue generated from the business to improve and expand his business.
HSPFI is an accredited partner 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.