Flaviano is a 54-year-old married man living in Talibon, Bohol, Philippines, who has been a fisherman for several years now. He is also running a guso or seaweed farming business. Eucheuma, a red alga, endemic to Philippine marine waters, is the twentieth-century wonder plant. It is so called because of its many important uses in various industries. From this seaweed is extracted carrageenan, a valuable substance used in products that need gelling, suspending, thickening, emulsifying and water-holding.
Flaviano is requesting a loan worth 25000 PHP which will be used to buy fishing equipment such as fish nets, ropes, and fuel for the fishing boat.
Flaviano works hard to earn a living in order to support the needs of his family.
In the future, Flaviano hopes to expand his business and to reinvest in it to augment his income. He believes that it takes perseverance, hard work, and support in order to succeed in business.
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.