Juvelyn R. is from the village of Ricoro, Gingoog City. She is 31 years old and married, with an infant child. To make a living, Juvelyn runs a sari-sari (variety) store. While not the only means for generating revenue, the main source of income for the business comes from selling products for daily use such as shampoo, soap, canned goods, snack food and detergent in the local community. Juvelyn has been engaged in her business for more than 10 years and earns approximately 6000 PHP a month.
In 2010, Juvelyn joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Juvelyn has successfully repaid a previous loan of 5000 PHP from HSPFI. This previous loan was used to to purchase additional inventory and as working capital. Juvelyn is requesting a new loan of 5000 PHP which will be used to purchase additional canned goods and snack food to sell. This loan will be the third loan taken out by Juvelyn from HSPFI. She plans to use the additional revenue generated from the business to improve and 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.