Jerry E. is from the town of Talibon. He is 50 years old, married and has 2 school-aged children. To make a living, Jerry owns and operates a business venture in the food sector making and selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling breads, cakes and cookies to the local community.
Jerry joined CEVI to gain access to financial services to help improve his living situation and ability to engage in business activities. Jerry is requesting a new loan of 4,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This loan will be the first loan taken out by Jerry from CEVI. He plans to use the additional revenue generated from the business to supplement his family's income.
Community Economic Ventures, Inc (CEVI) has increased its portfolio significantly in 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.