100%

funded

Total loan: $300

Magdalena

Flag of Philippines
Barangay 25, Pandan, Gingoog City, Mis. Or., , Philippines / Food

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A loan helped to purchase raw ingredients needed to make meals for sale.


Magdalena's story

Magdalena B. is from the village of Barangay 25, Pandan, Gingoog City. She is 50 years old. Magdalena is married and has 2 children. To make a living, Magdalena owns & operates a business venture making & selling food. While not the only means for generating revenue, the main source of income for the business comes from making and selling a variety of meals like "adobo" and "afritada" in the local community. She also runs her retail store selling assorted products. Magdalena has been engaged in her businesses for over 6 years and earns approximately 5000 PHP a month for these activities. In 2010, Magdalena joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Magdalena has successfully repaid a previous loan of 13,000 PHP from HSPFI. This previous loan was used to to purchase additional ingredients and additional working capital. Magdalena is requesting a new loan of 13,000 PHP which will be used to purchase raw ingredients needed to make meals for sale. This will be the 6th loan taken out by Magdalena from HSPFI. She plans to use the additional revenue generated from the business to improve/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. *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.