Total loan: $475
Bal-ason, Gingoog City, Misamis Oriental, Northern Mindanao, Philippines / Manufacturing
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A loan helped to purchase raw materials to manufacture additional brooms.
Teresita P. is from the village of Bal-ason, Gingoog City. She is 53 years old. Teresita is married and has six adult children. To make a living, Teresita owns & operates a manufacturing business. While not the only means for generating revenue, the main source of income for the business comes from making & selling brooms to local businesses and community members. Teresita has been engaged in her business for over 25 years and earns approximately 14,000 PHP a month for these activities. In 2009, Teresita joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita has successfully repaid a previous loan of 16,000 PHP from HSPFI. This previous loan was used to to purchase additional raw materials to expand product offerings. Teresita is requesting a new loan of 20,000 PHP which will be used to purchase raw materials to manufacture additional brooms. This will be the 6th loan taken out by Teresita 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.