Total loan: $100,000
Tagbilaran City, Bohol, Central Visayas, Philippines / Services
Cevi's loan finished fundraising,
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A loan helped to finance new loans for borrowers affected by the COVID-19 crisis and to support CEV's liquidity needs while they are unable to operate their business as usual.
Community Economic Ventures (CEV) is a microfinance institution located in the Philippines and they have been a trusted Kiva field partner since 2008. During that time, Kiva lenders have helped them serve almost 40,000 borrowers with more than $10m lent through the Kiva platform. CEV focus their operations on the more underserved parts of the country, particularly throughout the island communities of the Visayas region, and their mission is to improve the livelihoods of those living below the national poverty line. CEV is a women-led organization full of dedicated employees who live and breathe the mission each day they go to work. While historically a stable and sustainable organization, the global COVID-19 crisis has led to the Philippines being under considerable quarantine restrictions, which has severely impacted CEV’s operations. In addition to providing borrowers with grace periods on loan repayments, CEV is still not able to operate at full capacity and some of their branches remain closed. However, they remain ready to serve their customers as they begin to recover their business activities and this loan of $100,000 will help support CEV’s efforts to weather this crisis. This loan is part of Kiva’s Crisis Support Loan program to assist our Field Partner organizations directly so they can continue to support our borrowers. Because it is part of a pilot program, this loan may have higher risk. Read more in the "More about this loan" section below.