Chona B. is from the village of Iponan, Cagayan de Oro City. She is 42 years old. Chona is married and has 4 adult-aged children. To make a living, Chona owns & 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, snack foods, shampoo, soap & biscuits in the local community. Her husband is providing motorela (moto-taxi) or habal-habal service. Chona has been engaged in her business for over 3 years and earns approximately 10000 PHP a month for these activities.
In 2009, Chona joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Chona has successfully repaid a previous loan of 11000 PHP from HSPFI. This previous loan was used to to purchase additional inventory & working capital. Chona is requesting a new loan of 14000 PHP which will be used to purchase additional canned goods, snack foods & beverages for the retail store. This loan will be the 4th loan taken out by Chona from HSPFI. She plans to use the additional revenue generated from the business 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.