Damian is 38 years old and married. He has 2 children aged 13 and 6. Damian runs a business making and selling "balut". Balut is a boiled, fertilized egg and is very popular in the Philippines. Damian's business has been running for a year and three months. He said that so far it has been going well and that it has helped his family immensely.
Damian is planning to expand his "balut" business. He requested a loan of 50000 PHP from CEVI, a KIVA partner in the Philippines. He plans to use it to purchase more eggs. He also will use part of the loan to buy materials for making a bigger incubator for eggs. Damian hopes to have a progressive business.
“Asenso Loans are a new product offered by CEVI for clients showing strong performance in previous loans, and who need a larger loan in order to continue to develop. CEVI recognises the importance of helping people out of poverty, as well as providing continuous support and training as these clients progress. CEVI aims to provide financial services, not only our poorest clients, but also to our developing clients who should be rewarded for the way in which they display promising business skills. Please help us provide support for these clients.”
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.