Cresencia earns a living through her sari-sari or variety store business, selling various goods and items to the people in her neighborhood in Getafe, Bohol. She is a married woman and the mother of four children. Cresencia dreams of expanding her business so that she will be able to cater to more buyers, but she lacks the capital to do so. For this reason, she joined CEVI, a microfinance institution in the Philippines that offers small entrepreneurs loans for their businesses. With a loan, Cresencia will be able to buy more stocks to sell, including canned goods, candies, soap and detergents, rice, cooking seasonings and soda.
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.