Ludina E. is from the village of Balulang, Cagayan de Oro City. She is 45 years old. Ludina is married and has eight school-aged children. Ludina owns and operates a sari-sari (variety) retail shop. The main source of income for the business comes from buying and selling canned goods, junk food, shampoo, soap, biscuits & beverages in the local community. Ludina has been engaged in her business for over four years and earns approximately 8,000 Philippine pesos (PHP) a month from it.
In 2009, Ludina joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business. She has successfully repaid her last loan from HSPFI, which was for 14,000 PHP and was used to purchase additional inventory & as working capital.
Ludina is requesting a new loan of 17,000 PHP which will be used to to purchase additional canned goods, junk food & beverages. This loan will be her fifth from HSPFI. She plans to use the additional revenue generated from the business to improve and expand it.
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.