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Richel is from the village of Sinayawan, Valencia City, Bukidnon. She is 31 years old. Richel is married and has 3 school-aged children. To make a living, Richel owns & operates a business making and selling snacks & other delicacies, like rice & cheese cakes, in the local community. She also buys and sells a variety of fish in the public market. Richel has been engaged in her business for over 5 years and earns approximately 9000 PHP a month for these activities. In the picture is Richel and two of her daughters.

In 2009, Richel joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Richel has successfully repaid a previous loan of 14,000 PHP from HSPFI. This previous loan was used to purchase additional ingredients & working capital. Richel is requesting a new loan of 17,000 PHP, which will be used to purchase raw ingredients needed, like powdered rice, sugar, milk & cheese. This loan will be the 5th loan taken out by Richel from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her 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

  • $7,000
    Average annual income
  • 706
    View loans »
    Philippines Loans Fundraising
  • $63,241,750
    Funds lent in using Kiva
  • 43.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Richel to purchase raw ingredients needed, like powdered rice, sugar, milk & cheese.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
May 19, 2011
May 24, 2011
Currency Exchange Loss:
Mar 15, 2012