Marites O. is from the town of Talibon. She is 40 years old, married and has children who go to school. To make a living, Marites owns and operates a fishing business. She makes "panggals", fish baskets which her husband uses to catch fish. She also sells these to other fishermen. She has been engaged in this business for almost two years now.
In 2008, Marites joined CEVI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan from CEVI. Marites is requesting a new loan of 12000 PHP which will be used to invest in expanding the business.She plans to use the additional revenue generated from the business to pay her children's tuition fees.
Community Economic Ventures, Inc (CEVI) has increased its portfolio significantly over recent years. Based in Bohol, they have numerous branches throughout the Philippines. In 2009, CEVI was awarded a CGAP silver award for transparency in social performance monitoring. CEVI not only provides credit for its clients but additionally savings, insurance and training which are provided through regular cluster group meetings.
*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, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
About Community Economic Ventures, Inc.
Community Economic Ventures, Inc. (CEVI), based in Bohol, was awarded the Platinum Award for Transparency in Social Performance Reporting by CGAP. Social performance monitoring is imperative in measuring a microfinance institution’s effectiveness. The fact that CEVI is participating in this process speaks volumes about the organization’s commitment to serving its clients effectively. In addition to providing credit for its clients, CEVI provides savings, insurance, and training through regular cluster group meetings.