Merly M., 43 years old, is from the town of Surallah. She is married and has 2 school-aged children. To make a living, Merly owns & operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes from planting and harvesting rice for sale. Merly has been engaged in her business for over 20 years and earns approximately 3000 PHP a month for these activities.
Merly joined CEVI to gain access to financial services to help improve her living situation and ability to engage in business activities. Merly has successfully repaid a previous loan from CEVI. Merly is requesting a new loan of 15,000 PHP which will be used to purchase fertilizers such as manure and other farm supplies. This will be the sixth loan taken out by Merly from CEVI. She plans to use the additional revenue generated from the business to pay the tuition fees of her children and improve the living conditions of her family.
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.