In 2008, Lucy joined HSPFI to gain much-needed access to financial services. As a result, she was better able to engage in business activities and to thereby improve her family's standard of living. Recently, Lucy successfully repaid a loan in the amount of 15,000 PHP from HSPFI. This previous loan was used to to purchase additional inventory and for working capital purposes. Lucy is now requesting a new loan, this time in the amount of 20,000 PHP ($475), which will be used to purchase additional products like canned goods, junk food, and beverages. Notably, this loan would be the sixth loan taken out by Lucy from HSPFI. She plans to use the additional revenue generated from the business as a result of the loan to improve and expand her business.
About HSPFI: HSPFI is an accredited partner of Opportunity International in the Philippines. It is based in Cagayan de Oro City and reaches out to the poor households of Northern Mindanao.
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.
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Success!! The loan was 100% repaid