Fernando C., 53 years old, is the father of two children and is a rice grower in Norala, Sout Cotabato. His eldest is 19 years old. He wants to send his child to college but his income is not enough to afford the tuition fees, books and other school fees.
Now, Fernando needs to borrow money to support his farm. He would like to request a loan of Php 12,000 from Community Economic Ventures Inc. He will use the loan to buy farming necessities to improve his harvest size. Without this loan, he might have to go to loan sharks who put high interest rates on their loans.
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.