A loan of $175 helped to invest in expanding the business.

Meldred's story

Meldred H. is from the village of Tagoloan, Misamis Oriental. She is 43 years old. Meldred is married and has four school-aged children. To make a living, Meldred owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling seafood, including fish and shrimp, in the local community. Meldred has been engaged in her business for over five years and earns approximately 3,000 PHP a month for these activities.

In 2009, Meldred joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Meldred has successfully repaid a previous loan of 5,000 PHP from HSPFI. This previous loan was used to to purchase additional products to sell. Meldred is requesting a new loan of 8,000 PHP which will be used to invest in expanding the business. This loan will be the second loan taken out by Meldred from HSPFI. She plans to use the additional revenue generated to improve and 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.

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