Virgilia C., a 60-year-old mother, has nine children. Despite her age, she is still working for the food that she eats. Almost all of her children are married and have separate lives already, but she still wants to help them raise their children. So, when she heard about CEVI, she immediately joined the credit program and started a business. As a member, she maintained good repayment records on her loans and availed higher loans in succeeding cycles.
Virgilia engages in retail business. She sells gasoline and crude oil in her town. Since her business is situated along the highway of Lun Masla, Malapatan, Sarangani Province, Virgilia has had a very good market of her product. She just started with PHP 40,000 in capital for her business and earned a lot of profit from it which she used to renovate her house.
Now, she wants to avail a higher loan this time. Virgilia needs to purchase more stocks of gasoline to cater to all her customers. She believes that by doing so, she will earn higher earnings.
CEVI helps Virgilia sustain her business. Through CEVI, she has access to the credit assistance, trainings, and insurance coverage it offers to all its 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.