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Marites
Marites A. is from the village of Waterfall, Balingasag, Misamis Oriental. She is 49 years old. Marites is married and has five adult-aged children. To make a living, Marites owns and operates a business venture in the retail sector running a sari-sari (variety) retail shop. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling canned goods, junk foods, biscuits, shampoo, soap and candies in the local community. She is also making and selling snacks like rice and cheese cup cakes. Marites has been engaged in her business for over 17 years and earns approximately 6000 PHP a month for these activities.

In 2009, Marites joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marites has successfully repaid a previous loan of 7000 PHP from HSPFI. This previous loan was used to to purchase additional inventory and working capital. Marites is requesting a new loan of 5000 PHP which will be used to purchase additional products like canned goods and junk foods. This loan will be the 3rd loan taken out by Marites from HSPFI. She plans to use the additional revenue generated from the business to improve/expand the borrower's business.

About HSPFI:

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.

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
  • 1151
    View loans »
    Philippines Loans Fundraising
  • $54,688,850
    Funds lent in using Kiva
  • 43.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $125 helped Marites to purchase additional products like canned goods and junk foods for sale in her general store.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 29, 2011
Listed
Apr 6, 2011
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2011