Elena D. is from the town of Sto. Niño. She is 47 years old. Elena is married and has 6 school-aged children. To make a living, Elena owns and operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting and harvesting rice for sale. Elena has been engaged in her business for over 26 years.
Elena joined CEVI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elena has successfully repaid a previous loan from CEVI. Elena is requesting a new loan of 15,000 PHP, which will be used to purchase fertilizers and other farm inputs. This loan will be the tenth loan taken out by Elena from CEVI. She plans to use the additional revenue generated from the business to supplement the family's income.
Community Economic Ventures, Inc. (CEVI) has increased its portfolio significantly over the recent years. Based in Bohol, they have numerous branches throughout the Philippines. In 2009, CEVI was awarded a CGAP silver award for transparency in social performance monitoring. CEVI not only provides credit for its clients but additionally savings, insurance, and training which are provided through regular cluster group meetings.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
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.