52-year-old Saturnino D. is from the town of Guitas. He is married and has 2 school-aged children. To make a living, Saturnino owns and 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. Saturnino has been engaged in his business for over 10 years and earns approximately 5000 PHP a month for these activities.
In 2008, Saturnino joined CEVI to gain access to financial services to help improve his living situation and ability to engage in business activities. Saturnino has successfully repaid a previous loan from CEVI. Saturnino is requesting a new loan of 13,000 PHP, which will be used to purchase additional seeds, seedlings, and young crops to raise. This loan will be the fifth loan taken out by Saturnino from CEVI. He plans to use the additional revenue generated from the business to pay his children's school fees and improve the general living conditions of his family.
Community Economic Ventures, Inc (CEVI) has increased its portfolio significantly over the recent years. Based in Bohol, the organization has 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 also 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.