Concepcion L. is from the village of Ricoro, Gingoog City. She is 48 years old. Concepcion is married and has 2 school-aged children. To make a living, Concepcion owns and 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 of bananas like tondal, lakatan and marabiya in the local community. Concepcion has been engaged in her business for over 3 years and earns approximately 4,000 PHP a month for these activities.
In 2009, Concepcion joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Concepcion has successfully repaid a previous loan of 5,000 PHP from HSPFI. This previous loan was used to to purchase additional inventory & working capital. Concepcion is requesting a new loan of 8,000 PHP which will be used to purchase additional bananas. This loan will be the 2nd loan taken out by Concepcion from HSPFI. She plans to use the additional revenue generated from the business to improve/expand her business.
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.
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.