Letecia C. is 44 years old. She is a Community Economic Ventures Inc. (CEVI) client and lives on a small island in Bohol, named Suba. She is a wife of a fisherman and has six children. Although her eldest daughter is already married, her other children are still in school.
She requested a loan of Php 18,000 from CEVI, which she will use to buy fishing materials and a new boat. She plans to use the second boat to make money ferrying passengers to and from the island.
She is enthusiastic about CEVI and likes their interest rate, which is 2% a month.
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.