Rosefe E. is from the village of San Simon, Cagayan de Oro City. She is 41 years old. Rosefe is married and has 2 school-aged children. To make a living, Rosefe owns and operates a business venture in the retail sector, a sari-sari (variety) shop. The income for the business comes primarily from buying and selling canned goods, snack foods, detergents, shampoo, soap, and biscuits in the local community. She also buys and raises pigs and goats for sale. Rosefe has been engaged in her business for over 6 years and earns approximately 7000 PHP a month for these activities.
In 2007, Rosefe joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Rosefe has successfully repaid a previous loan of 8000 PHP from HSPFI. This previous loan was used to purchase additional inventory and working capital. Rosefe is requesting a new loan of 10000 PHP which will be used to purchase additional breads, biscuits, and canned goods. This loan will be the 8th loan taken out by Rosefe from HSPFI. She plans to use the additional revenue generated 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.