Reynaida A. is from the village of Thailand, Banisilan Cotabato. She is 54 years old. Reynaida is married and has four school-aged children. To make a living, she runs a sari-sari (variety) retail store, selling both food and daily use products in the local community. Reynaida has been engaged in her business for over twenty-five years and earns approximately $300 a month for these activities.
In 2009, Reynaida joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from HSPFI. She is requesting a new loan of 8000 PHP which will be used to purchase additional products to sell. This will be her 2nd loan from HSPFI. She plans to use the additional revenue generated from the business to support the education of her children.
HSPFI is one of the 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.
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.