Mary Chor H. is from the town of Sto. Niño. She is 23 years old. Mary Chor is married and has 2 very young children. To make a living, Mary Chor 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. Mary Chor has been engaged in her business for over 5 years and earns approximately 3500 PHP a month for these activities.
Mary Chor joined CEVI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mary Chor has successfully repaid a previous loan from CEVI. Mary Chor is requesting a new loan of 10,000 PHP which will be used to purchase fertilizers, seeds and other farm inputs. This will be the third loan taken out by Mary Chor from CEVI. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.
Community Economic Ventures, Inc (CEVI) has increased its portfolio significantly over the 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.