Ma. Magdalina runs a sari-sari (variety) store business in San Jose, Talibon. She sells various items like snacks, candies, cooking oil, and vinegar. She earns 5,000 Philippines pesos (PHP) per month with her business.
Ma. Magdalina's income is used for her family's daily needs. She needs additional capital for her business and sought the help of CEVI, an MFI and Kiva partner. She applied for a loan to buy more merchandise to sell, such as canned goods and toiletries. Magdalina hopes for her sales to improve.
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.