Rosalita is a 49-year-old married woman from Talibon, Bohol. She has one child who is now 25 years old. She started farming in 1989, and it has been the source of her income since. In 2005, she was introduced to Community Economic Ventures, Inc (CEVI), an MFI in the Philippines. It was new to her, but she was interested in joining because she needed financial support for her farm. She said that she is happy she joined five years ago because the MFI’s program has been very helpful in maintaining her farm. She is now applying for a loan of 50,000 PHP, which she will use to buy farm supplies like seeds and fertilizer. She will also buy other farming materials that she needs.
“Asenso Loans are a new product offered by CEVI for clients showing strong performance in previous loans, and who need a larger loan in order to continue to develop. CEVI recognizes the importance of helping people out of poverty, as well as providing continuous support and training as these clients progress. CEVI aims to provide financial services, not only to our poorest clients, but also to our developing clients who should be rewarded for the way in which they display promising business skills. Please help us provide support for these clients.”
“CEVI has increased its portfolio significantly over the past 5 years. Based in Bohol, they have 22 branches throughout the Philippines, and will soon be adding two more branches. CEVI has recently been awarded a CGAP silver award for transparency in social performance monitoring. Social performance monitoring is imperative in order to measure a microfinance institute’s effectiveness. The fact that CEVI is participating in this process speaks volumes. CEVI not only provides credit for its clients but, additionally, savings, insurance, and training are provided through regular cluster group meetings. Please feel free to take a look at the CEVI website.”
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.