Armeda V. is from the village of Retablo, Libertad, Misamis Oriental. She is 71 years old. Armeda is widowed and has 7 adult children. To make a living, Armeda owns & operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling bananas in the local community. Armeda has been engaged in her business for over 41 years and earns approximately 8000 PHP a month for these activities.
In 2008, Armeda joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Armeda has successfully repaid a previous loan of 11,000 PHP from HSPFI. This previous loan was used to to invest in expanding the business. Armeda is requesting a new loan of 14,000 PHP which will be used to purchase additional inventory and as working capital. This will be the 4th loan taken out by Armeda from HSPFI. She plans to use the additional revenue generated from the business to improve/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.