A loan of $300 helped to expand the business.

Fausto's story

Fausto M. is from the village of Tumpagon, Cagayan de Oro City. He is 50 years old. Fausto is married and has four school-aged children. Fausto owns and operates a sari-sari (variety) retail shop for a living. While not the only means for generating revenue, the main source of income for the business comes from selling food and daily use products to the local community. Fausto has operated his business for over one year and earns approximately 5,000 PHP a month.

In 2008, Fausto joined HSPFI for access to their financial services in order to help improve his living situation and his ability to engage in business activities. Fausto has successfully repaid a previous loan of 8,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell. Fausto is requesting a new loan of 14,000 PHP to expand the business. This loan will be Fausto's 3rd HSPFI loan. He plans to use the additional revenue generated to support his children's education.

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.

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