Arman D.'s main source of income comes from providing motorcycle or habal-habal services to local community members. He is a 32-year-old single man from the village of Tagdo, Mambajao, Camiguin Province. Arman has been in his business for over five years and earns approximately 5,000 Philippine pesos (PHP) a month.
In 2009, Arman joined HSPFI to gain access to financial services to help improve his living conditions and enable him to engage in business activities. Arman has successfully repaid a previous loan of 5,000 PHP from HSPFI which was used to purchase materials needed to provide his service. Arman is requesting a new loan of 5,000 PHP which will be used to purchase tools for the maintenance and improvement of his business. This will be his second loan from HSPFI. He plans to use the additional revenue generated from the business to improve and expand his business.
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.