Racilyn A. is from the town of Sta. Josefa. She is 29 years old, married and has 2 school-aged children. She is involved in farming and has been planting rice crops for more than seven years already. She gets her income from selling her harvest at the market. She says she works hard so that her family can eat three times a day and her children can go to school. She hopes to see her children graduate from college and have a bright future.
Racilyn joined CEVI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan from CEVI. Racilyn is requesting a new loan of 15,000 PHP which will be used to purchase additional seeds, fertilizers and other farming supplies. This will be the eighth loan taken out by Racilyn from CEVI. She plans to use the additional revenue generated from the business to improve her family's general living conditions.
Community Economic Ventures, Inc (CEVI) has increased its portfolio significantly over recent years. Based in Bohol, it 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 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.