Malyn E. is from the village of Bolihon, Taglimao, Cagayan de Oro City. She is 32 years old. Malyn is married and has two children. To make a living, Malyn owns & operates a sari-sari (variety) retail shop. While not the only means for generating revenue, the main source of income for the business comes from buying and selling daily use products such as shampoo, soap, canned goods, snack foods, instant noodles & beverages in the local community. Malyn has been engaged in her business for over 3 years and earns approximately 20,000 PHP a month for these activities. In the picture are Malyn & her younger son.
In 2008, Malyn joined HSPFI to gain access to financial services to help improve her living situation and ability to engage in business activities. Malyn has successfully repaid a previous loan of 23,000 PHP from HSPFI. This previous loan was used to to purchase additional inventory and as working capital. Malyn is requesting a new loan of 26,000 PHP which will be used to purchase additional products to sell such as canned goods & beverages. This will be the 8th loan taken out by Malyn 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.