A loan of $300 helped to invest in expanding the business.

Mario's story

Mario Gabriel, Jr. is from Iligan City. He is 29 years old. Mario is married and has five school-aged children. To make a living, Mario owns and operates a specialized retail store. The main source of income for the business comes from selling seafood, including fish and shrimp, in the local community. Mario has been engaged in his business for over five years and earns approximately 7,000 PHP a month for these activities.

In 2009, Mario joined HSPFI to gain access to financial services to help improve his living situation and ability to engage in business activities. Mario has successfully repaid a previous loan of 10,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell. Mario is requesting a new loan of 13,000 PHP which will be used to expand the business. This loan will be the sixth loan taken out by Mario from HSPFI. He plans to use the additional revenue generated from the business to improve and expand his 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.

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Loan details