Genedina E. is from the village of Mahinog in Camiguin Province. She is 57 years old. Genedina is widowed and has one school-aged child.
Genedina owns and operates a specialized retail store. The main source of income for this business comes primarily from selling personal products such as glasses, watches, cosmetics, and personal products like lotion and fragrance to members of the local community. Genedina has been engaged in her business for over 30 years and earns approximately 12,000 PHP a month from these activities. In addition to her store, she sells ‘amakan’ (woven bamboo strips that are used to dry rice under the heat of the sun).
In 2009, Genedina joined HSPFI to gain access to financial services. Her goal was to help improve her living situation and increase her ability to engage in business activities. Genedina has successfully repaid a previous loan of 11,000 PHP from HSPFI. This previous loan was used to purchase additional products to sell.
Genedina is requesting a new loan of 13,000 PHP, which will be used to invest in expanding the business. This loan will be the fourth loan taken out by Genedina from HSPFI. She plans to use the additional revenue generated from the business to improve and expand her business.
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.
About Hagdan Sa Pag-uswag Foundation, Inc.
Hagdan Sa Pag-uswag Foundation, Inc. (HSPFI) is a non-governmental development organization founded in 1987 to promote Christian values through microfinance services in the Philippines. It partners with Opportunity International and the Mindanao Microfinance Council among others, and offers a range of business and community development services, including savings and insurance programs in addition to lending.