Ma. Magdalina is a 45-year-old married woman from Ubay, Bohol. She has eight children. The oldest is 24 years old while the youngest is nine months old. Most of her children are currently studying in school.
She is in the fishing business and has also been operating a sari-sari, or variety store, as her second business for 15 years now. She has monthly earnings of 10,000 PHP which help her support all her children's schooling and the needs of her family.
Ma. Magdalina is requesting a loan to buy items like canned goods, salt, noodles, toiletries, sugar, milk and food snacks. With this loan she will be able to buy merchandise for her store and attract the attention of the customers in her community.
In the future, Ma. Magdalina hopes to expand her business and to increase profits.
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.