Elsa M. is from the town of Loon. She is 38 years old, married and has 7 school-aged children. Elsa owns and operates a business making and selling cooked food for daily meals.
Elsa joined CEVI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elsa has successfully repaid a previous loan from CEVI. She is requesting a new loan of 6,000 PHP which will be used to invest in expanding the business. This will be the fourth loan taken out by Elsa from CEVI. 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 the 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.