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Marichel
Marichel A. is from the village of Sorosoro, Maribucao, Camiguin Province. She is 48 years old, married and has four school-aged children. To make a living, Marichel owns and operates a sari-sari (variety) retail shop selling canned goods, junk foods, detergents, biscuits and candies in the local community. Marichel has been engaged in her business for over six years and earns approximately 7,000 PHP per month from these activities.

In 2010, Marichel joined Kiva partner, HSPFI, to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from HSPFI. This loan was used to purchase additional inventory and as working capital. Marichel is requesting a new loan of 8,000 PHP, which will be used to purchase additional canned goods and instant noodles. This loan will be her second from HSPFI. She plans to use the additional revenue generated from the business to improve and expand her business.


About HSPFI

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.

Additional Information

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.

About Philippines

  • $1175
    Average annual income
  • 1315
    View loans »
    Philippines Loans Fundraising
  • $56,502,475
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Marichel to purchase additional canned goods and instant noodles.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 23, 2011
Listed
Mar 28, 2011
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2011