Table of Contents

3....A Decade of Transformation Introduction

4....10th Year Anniversary Celebration
5....About CEVI
6....A Message from the President
7....A Message from the Executive Director
8....A Note from VisionFund President and CEO
10...The Board of Directors
12....Fiscal Year 2010 Highlights
14....Endorsing Quote from Finance Manager
15....To Have a Servants Heart: The Essence of Customer Service
16....Four CEVI Branches Opened in 2010
17....What is Most Significant Change?
18....CEVI Receives Gold Award
19....Kivas Asia-Pacific Conference
20....The 5th Entrepreneurs Congress Agro-fair 2010
21....CEVI Supports MMS Branch Managerss Training
22....BOT Development Training
23....VFI Leaders Visit CEVI
24....CEVI Coverage Areas
25....CEVI Product Portfolio
26....Child Well-being Outcome
30....Endorsing Quote from Area Manager
31....Clients Success Stories
36....Endorsing Quote from HR Manager
37....Report of Independent Auditors
38....Statements of Assets, Liabilities, and Fund Balance
39....Statements of Income and Expenses
40....Statements of Changes in Fund Balance
41....Statements of Cash Flows
42....Network and Partners

A DECADE OF TRANSFORMATION
Ten years ago, there
was one man, who
believed that the poor is
bankable. So, he started a micro
finance organization, which offers
small loans to the poor in rural and
urban communities.
Ernesto Macabenta former Executive
Director of Community Economic Ventures
Inc. (CEVI) officially established the
organization in August 2000. His advocacy on
empowering the poor continues to surge in the
blood of his former colleagues and to every vein
of the current CEVI employees.
Under his leadership, the CEVI has achieved
sustainability and able to promote transformation
in the lives of the people it served.
The Road Towards Growth
Despite the global financial crises and economic
downturn in the past, CEVIs operations remain
steadfast and stable. Based in Bohol, the CEVI
continues to grow in
size with 26
branches, 234 employees and
more than 34,000
clients
nationwide.

Indeed, there is a
transformation that is
going on. Some of our
clients have testified how
their lives have changed as they
grow their business through CEVI.
And this transformation wont be
possible without the people who gave
their commitments, time and dedicated
service, to uphold its beautiful cause.
About the Cover
The person in the cover page is Marijen
Constantino, who is currently in her 5th cycle
as a CEVI borrower. Marijen is from the town
of Dauis. She is 32 years old, married and has
5 children.
To make a living, Marijen owns & operates a
fishing business. While not the only means for
generating revenue, the main source of
income for the business comes from
operating a fishing boat to catch and sell
assorted fish to the market. Marijen has
been engaged in her business for over 4
years.
Marijen joined CEVI to gain access to
financial services to help improve
her living situation and ability to
engage in business activities.

10TH YEAR ANNIVERSARY CELEBRATION

During the month of August, the

Community Economic Ventures Inc.
(CEVI) regional branch offices in Luzon,
Visayas and Mindanao held different
activities with their Area Managers and
Area Accountants to celebrate the CEVI
10th Year Anniversary.
At CEVI head office, they celebrated the
anniversary by conducting an activity
similar to the popular TV show The
Amazing Race. They were divided into
four teams. Each team went to 12
different locations and has performed
various tasks until they reached the finish
line of the race.

Indeed it was a moment of fun that has

been shared together by the CEVI
employees. After the race, a program
followed, which was attended by the
staff coming from CEVI head office,
Tagbilaran, Talibon, Trinidad, Ubay and
Carmen branches. They offered
devotional prayer and thanksgiving for
all the blessings that they have received
in the past 10 years.
CEVI staff members in Mindanao, Luzon,
Visayas 2 and Visayas-3 also celebrated
the anniversary through holding an outof-town fellowship.

ABOUT CEVI
The Community Economic Ventures, Inc. (CEVI) is a
Christian, non-stock, non-profit, non-government
organization. It is organized to respond to the
needs of micro-entrepreneurs engaged in
trading, manufacturing and service-type
businesses through provision of financial and
technical assistance.
Aimed at developing sustainability and
alleviating poverty, CEVI provides small
businesses a better alternative to access credit,
build-up capital and generate savings. CEVI also
extends appropriate consultancy services and
trainings to its clients.
A partner of VisionFund International (VFI) and World Vision Development Foundation
(WVDF), CEVI continues to explore methods to increase outreach to people in
impoverished regions, including communities that have been financially excluded
based on ethnicity and religion.

VISION
People Experiencing Fullness of Life.

MISSION
As a sustainable Microfinance Institution,we follow Jesus Christ in promoting
transformation in the lives of poor families and communities through the provision of
appropriate microfinance services with values formation, training and consultancy.

SOCIAL MISSION
Serve the economically active poor by providing appropriate & quality microfinance
products & services to help their business.

MESSAGE OF THE PRESIDENT

2010 was a banner year for the Community
Economic Ventures, Inc. (CEVI) in terms of
organizational effectiveness that redounds
to the benefits of its more than 34,000 clients.
For this, we are truly grateful to the Lord. The
banner year happened because God
blessed all our good intentions and actions.
To God be the glory!
CEVI is a sister organization of World Vision.
CEVI and World Vision both seek to be used
by God to bring about transformation in the
lives of people, so they can live life to its
fullest as Jesus promised in John 10:10. For
three consecutive years, CEVI has
maintained the highest rating in its
integration with World Vision. This means the
two organizations have become a united
and cohesive force, complementing each
others programs, for the good of the people
they serve.

Reaching out to more people and providing

more quality services drive the engine of
CEVI as a microfinance organization and
ignite the passion of its leaders and staff all
over the country. It has piloted an Islamic
Financing Program hopes to serve more
Muslims in the coming years. It has increased
its portfolio by 60% and to date has 34,097
borrowers.
CEVI has maintained strong partnership with
funding networks in and outside of the
Philippines. For instance, because of its
membership in KIVA and Micro, it was able
to generate funds of more than P145 million.
CEVI has expanded its networks with BPI
Globe, PCFC, PLANIS and LBP.
Managing funds is as crucial as obtaining
them. As a Christian organization, CEVI puts
heavy emphasis on good stewardship of
resources entrusted to it. CEVI has
maintained high standards for both internal
and external audits. Results of these audits
have shown that CEVI upholds a high
standard of integrity, transparency and
accountability.
Any organization is only as good as its
people. Last year, CEVI implemented a
Management Strengthening Program to
further equip its managers to perform with
excellence. As of now, eight of its managers
are pursuing postgraduate studies. Of
course, a continuing spiritual strengthening
program for all staff is in place, because
CEVI believes that good works flow from a
deep relationship with God.
Indeed, to God be the glory, because He is
the true source of CEVIs accomplishments!

ELNORA BAILEN AVARIENTOS

BOT President, CEVI

MESSAGE OF THE EXECUTIVE DIRECTOR

A decade of transformation, this is how I
would like to chronicle the impacts, that
CEVI has produced, in its provision of
financial services to the poor.
Indeed, the time has flown by so quickly,
and I still remember the days when CEVI
has lived through the most challenging
moments in its operations. However,
despite the difficult periods for CEVI,
Gods power is truly evident, as I have
seen the dedication and commitment of
each and every staff member, who
continue to offer their skills and time to
achieve sustainability and success.
Let me congratulate everyone for
achieving another milestone in our
operations. As we commence our 10th
year anniversary celebration, we will also
renew our commitments for community
service.
Thank you for the 10 years that we are
together in preserving the integrity,
stewardship and accountability of CEVI.
We will continue to advocate for
community development, uphold client
protection policy and child well being
programs. We will also continue to
maintain quality operations and reach
out more clients to contribute in the
transformation of those whom we serve.
Special thanks to CGAP for our Gold
Award this year, this recognizes CEVIs
integrity and transparency in reporting,
and data collection of social
performance.

And to our partners that help contribute

our
success, the World Vision
Development
Foundation
and
VisionFund International for their
unwavering support and guidance.
God Bless us all!

JONAR B. DORADO, CPA

CEVI Executive Director

A Note from VisionFund President & CEO, Scott Brown

I am delighted to share highlights and a review of the performance made by CEVI
(Community Economic Ventures Inc) over the past year. As an affiliated microfinance
institution (MFI) of VisionFund International (VFI), CEVI has played an integral part in
providing financial resources to the entrepreneurial poor in the Philippines.
One of the notable significant highlights of 2010 has been CEVIs achievement of the
MIX Gold Award for excellence in social performance reporting. Each year, MFIs
from around the world are ranked and reviewed by the Microfinance Information
Exchange (MIX), a leading business information provider dedicated to strengthening

the microfinance sector by providing transparent financial

and social performance reports.
Social performance refers to the commitment to serve the
poor with products and services that meet the
development needs of them and their families. I am
pleased that CEVI has demonstrated excellent poverty
measurement through the adoption of the Progress out of
Poverty Indicator tool which has allowed them to refocus
their target on the poor and design appropriate products
and services.
Throughout the VisionFund network of 40 affiliated MFIs, 2010
was also a year of exceptional growth. Globally 70,000
additional loans were disbursed and in addition nearly half
a million children were positively impacted by our
microfinance services. At the close of the fiscal year, VFIs
global portfolio totalled US$341 million, while disbursing over
750,000 loans.
CEVI was also a part of this exceptional growth. In 2009 the
MFI disbursed over $7.8 million in loans to more than 21,000
borrowers. CEVIs microfinance efforts impacted over
75,000 children and created or sustained nearly 39,000
jobs. This increase in
2010 demonstrates CEVIs
achievement in impacting over 55,000 jobs and
positively improving the lives of 100,000 children.
As an affiliated MFI of VFI, CEVI has at its heart the
determination and drive to make lasting change in the
lives of the entrepreneurial poor; made possible through
the power of small loans.
Sincerely,

SCOTT BROWN

10

THE BOARD OF TRUSTEES

Elnora B. Avarientos
WVDF Executive Director
Elnora Avarientos is the National Director of World Vision Development
Foundation in the Philippines. She has extensive years of experience in
World Vision and once responsible for giving support and guidance to
national directors and leadership teams in countries such as Cambodia,
Indonesia, India, China and Papua New Guinea in enhancing their
capacity to lead, manage and deliver quality ministry, through
coaching and mentoring.

Eduardo C. Jimenez
Microfinance Consultant of the Bangko Sentral ng Pilipinas
Eduardo C. Jimenez is presently working as Microfinance Consultant of
the Bangko Sentral ng Pilipinas. Looking at policy issues affecting the
practice of microfinance in the banking sector, he is also the Housing
Microfinance Consultant of the Asian Development Bank. Mr. Jimenez
has previously worked as consultant of United Nation (UN) and other
UN attached agencies.

Florelyn Plaza Tiu

WVI Sponsorship Operations Manager
Florelyn Plaza Tiu is the Sponsorship Operations Projects Manager of
World Vision International. She supports the Associate Director
Sponsorship Operations to enhance the effectiveness and efficiency
of field based sponsorship operations with the aim to enhance program
impact on children, their communities and donors through improved
sponsorship service performance, programming and related work
processes.

11

Liberty B. Rigor
Program Group Manager
Liberty Rigor is World Visions Program Group Manager since 1995. She is a
Certified Public Accountant. Prior to her present position, she has worked as
Regional Coordinator, Chief Accountant and Semi-Senior Auditor in World
Vision Manila area.

Rommel Peter D. Caringal

VFI Regional Director, Asia Pacific Region
Rommel Peter Caringal is the VisionFund International Regional Director, in
Asia Pacific Region. He provides leadership in the execution of Vision Fund
strategies involving 11 countries of Asia Pacific region. He has broad
experience in microenterprise / microfinance sector in the areas of setting
up commercial companies, organizational management, product and
services development, human resource, organizational development,
Management Information System (MlS), capacity building, board
development, various program innovations for greater sustainability.

Remedios N. Geraldes
ADP Program Quality Specialist for WVI-Asia Pacific Region
Remedios N. Geraldes is an ADP Program Quality Specialist for World Vision
international Asia Pacific Region since 2003. She provided support to the
improvement of transformational programming through the implementation
of Transformational Development Indicators, building capacities for design,
monitoring and evaluation of programs and facilitates intentional learning
for quality. She has been into different roles and responsibilities prior to her
present position in World Vision.

Ardy Roberto
Chairman Salt and Light Foundation
Ardy Roberto aside from being an author, he is also a producer of international
award-winning seminar. He is a co-founder and CEO of Salt & Light Ventures,
Inc. Mr. Roberto have won many local and international awards for his
seminars.

12

FISCAL YEAR 2010 HIGHLIGHTS!

The year 2010 has posed a great challenge in achieving both our organizational
sustainability and stability. However, in light with economic crisis, which stunned our
local micro finance industry, we continue to grow and accomplish many things.
CEVIs Mission and Vision statement was enhanced. We also developed our strategic
plan, which includes Values and Integration, Impact and Inclusiveness, Sustainability
and Systems, Institution and Industry Building, Organizational Governance and
Staff Well-being, Network and Resources.

VALUES AND INTEGRATION

CEVI has partnered with different
churches to integrate spiritual nurturing of
clients in its operations. We piloted the
Islamic finance product in Mindanao as we
expand our areas in the southern region.

During the third quarter of the fiscal

year, CEVI completed the module for the
Christian Witness Initiative Program entitled
A Marketplace Spirituality Curriculum. This
will be utilized in the conduct of Bible Study
in all CEVI Cluster Associations.

CEVI has provided loans to 34,097

families during the end of fiscal year 2010. It
has covered 17,286 families within ADP,
which represent 51% of its total outreach.

56% of the total number of WVDF

ADPs were already covered by CEVI. This
year, three new ADPs were covered namely,
DIADEM in Dulag Leyte, ADP Surigao Sur in
Surigao and North East Bohol in Ubay Bohol.

CEVI created a child protection

policy, which was being disseminated and
implemented by all CEVI staff.

For two consecutive years, CEVI

achieved an A rating in integration with
World Vision.

IMPACT AND INCLUSIVENESS

CEVI conducted a Focus Group
Discussion (FGD) to clients in order to seek
feedbacks on how to improve its products
and services.

The average loan disbursed by CEVI

per client is Php 9,047. This means that CEVI
is catering its services to people with less
income.

100% of CEVI clients are enrolled in

Micro-insurance program.

CEVI
conducted
a
Social
Performance Assessment on Child WellBeing Outcomes last October 2010. Data
were gathered through FGD using the
CERISE SPI tool.

The Progress out of Poverty Index (PPI)

tool has been implemented by CEVI since
March 2006 in replacement of Means Test.
This tool is used to determine if an MFI has
reached its target clients.

40% of CEVIs new clients are below

the national poverty line.

The Client Protection Policy was

enhanced and aligned along with CEVIs
basic operating principles and existing
employees code of conduct. It was
implemented last July 1, 2009. The policy
was designed to ensure that clients and
partners are treated well with dignity and
respect while providing them highest quality
products and services.

13

SUSTAINABILITY AND SYSTEM

Portfolio and Number of Borrowers
increased. This year, CEVI increased its
portfolio to PhP187 Million, a 60% boost
compared to last year. The number of
borrowers also increased by 30%.

ORGANIZATIONAL GOVERNANCE
AND STAFF WELL BEING

From loan disbursed of Php 371 Million

of last year, CEVI increased its loan disbursed
to Php 470 Million this year because of
expansion of new branches.

IPAS and Sun System were already

used in recording and consolidating reports.

CEVIs latest external audit result from

KPMG Philippines shows Unqualified
Opinion. This result reflects that CEVI has
maintained its integrity, stewardship and
accountability as a Christian Microfinance
organization.

INSTITUTION AND INDUSTRY BUILDING

CEVI is an active member of the
Philippines
Social
Performance
Management Peer Learning Community .

CEVI is a member of Micro-finance

Council of the Philippines (MCPI) since 2002.
This year, CEVI was elected as a Board and
Treasurer of the MCPI. The MCPI is a network
of 44 institutions working towards the rapid
development of the micro finance industry
in the Philippines.

CEVI has seven competent Board Of

Trustees coming from different sectors and
expertise in Banking and Finance,
Economics, Microfinance, Human Resource,
Organizational Development, Program and
Evaluation, Marketing, and Governance.

Leadership recognized by VFI. CEVI

Executive Director was awarded as one of
the excellent performing CEOs in the VFI
network. CEVI was invited to the World Vision
International Triennial Council in Kuala
Lumpur, Malaysia and was requested to be
one of the resource persons on the breakout
session about Social Performance. Also,
VisionFund International CEO, Scott Brown
and VFI BOT Chairman, Dick Richards visited
CEVI and affirmed its efforts to strengthen
its operations, improve social performance
and integration with WVDF.

Management
Strengthening
Program implemented. A total of eight staff
has enrolled a postgraduate study for staff
development and well-being.

CEVI maintains a green rating in its

performance in the VFI Global Standard for
its effectiveness in providing financial and
social services to the community. CEVI is also
within satisfactory in the PESO rating.

CEVI launched its official website.

Please visit us at www.cevi.org.ph

NETWORK AND RESOURCES

Partnerships strengthened. CEVI
continues to partner with KIVA , World
Vision ADPs, BPI Globe, PCFC, PLANIS,
Mercantile, and Grameen Foundation.

14

...we were able to live through the

day-to-day challenges

I started working in CEVI in 1999, a year before it was officially

registered to the Securities and Exchange Commission
(SEC) in the Philippines. In that year, we were only 15,
and we borrowed some supplies from World Vision
ADP in doing our transactions with the clients.
Indeed, God has abundantly blessed our
organization, because in 10 years, we were
able to live through the day-to-day
challenges in our operations. We have
opened 26 branches in the country and
employed additional workforce. CEVI has
grown really fast. This is also because of
hard work, commitment and dedicated
service of its staff.

JULIET R. ALMEDILLA
CEVI Finance Manager

26

CEVI employees and Boris Joaquin, WVDF Director of Publics in Ministry during Exceeding
Customers Expectations Seminar

To Have a Servants Heart: The Essence of Customer Service

When youre in the business of
microfinance, youre in the business of
relationship building. Microfinance
institutions (MFIs) must rely on a vast
network of relationships between
stakeholders clients, lenders, donors,
employees, etc in order to provide
financial services to the poor and fulfill
their other objectives.

elaborated on these values, explaining

to the staff that when they deal with
clients, they are:

Pastor Boris Joaquin, World Visions

Director of Publics in Ministry, shared his
insight on how to exceed customers
expectations with Community Economic
Ventures, Inc (CEVI) during an intensive
workshop. Forty-seven CEVI staff
members, including branch managers,
area managers, and top management,
met at JJs Seafood in Tagbilaran City to
discuss Customer Service 101.

2. Using Gods resources. They therefore

need to become good stewards of His
resources and be responsible when
managing them.

CEVI is distinct from other microfinance

institutions in that it is a Christian
organization prayer, stewardship, and
servant-hood are core values that staff
members uphold.
Pastor Boris

1. Dealing with the image of God.

Clients are created by God and
therefore are extensions of God. By
serving them well, the staff are serving
God.

3. Serving as ambassadors of Christ.

Jesus Christ is a king who died for his
people, so at a minimum the staff should
give good customer service to their
people.
These 3 principles set the tone for the
duration of the training, and as we
discussed
the
importance
of
transformational relationships (as
opposed to transactional relationships) in

16

building customer loyalty, we were

inspired by Biblical references.
The mood was light, filled with laughter,
jokes (which Filipinos are very fond of!),
and stories the staff eager to learn
about the 11 Powerful Keys to Excellent
Customer Service. Through role playing
and the sharing of experiences, we
gained additional knowledge about
how to cope with challenging customers.
As the day came to an end, we reflected
on the timeliness of the customer service
training. One manager shared his
experience of losing a customer, sakit
kaayo, its painful! he said.
Referencing a commercial in which
Manny Pacquiao (Filipino boxing
champion and politician) promotes a
pain relieving product, CEVIs Executive
Director Jonar Dorado followed with,
After that painful experience comes the
process of recovery and healing, the
process of improving. There is a change
going on.
There is a change going on in CEVIs
approach to customer service and
although during my borrower visits in the
town of Baclayon I received nothing but
positive feedback from clients, CEVI is
making strides to raise the bar in terms of
customer satisfaction.
by: Kaajal Laungani, Kiva Fellow

Four CEVI Branches Opened in 2010

In the midst of economic turmoil in the
country, inflation and other hurdles of
progress, CEVIs dedication in helping the
poor has never falter.
True to its goals, the CEVI program has
the potential to empower the
economically challenged men and
women. With a decade of experience on
microfinance services, the CEVI
operations continue to grow in size.
For 2010, four new branches of CEVI were
launched. They are located in Isulan,
South Cotabato, Isabel Leyte, Barili Cebu,
and Nabunturan, Compostela Valley.
Mr. Edwin Crescencio, CEVI Operations
Manager shared the organizations plans
for the fiscal year 2011. He said that the
direction of CEVI is to open more
branches in 2011. The locations are:
Cagayan, Tacloban, and in Mindanao.
We have been doing our best to
achieve our goals, he said. And we are
already preparing to do more outreach
for next year, he added.
The addition of four branches not only
benefited the clients but also provided
employment to our fellowmen.
CEVI currently operates 26 branches
across the Philippines.

26

What is Most Significant Change?

Taken during MSC workshop at CEVI Head Office

Developed by Rick Davies and Jess Dart, the
Most Significant Change (MSC) technique is
simply story telling. It involves contemplating at
the past and reflecting on the changes that a
person has experienced, and sharing the most
significant of these changes to a group.

were able to develop their leadership skills and

became confident in leading. They became
prayerful and able to reflect the Word of God.

Last October 22, 2010, the CEVI conducted the

Most Significant Change (MSC) workshop
among its employees at the CEVI head office to
gather and document stories of transformation.

After the death of my father, my relationship with

God has broken. I have this disappointment
toGod because my constant prayer unto Him
was to keep my family healthy.

During MSC workshops, the CEVI employees

were asked to reflect on the changes that they
have experienced after they joined the
organization and respond to the MSC question.

When I joined CEVI, my intention was towork only

so that I could feed my stomach & my family. I
never go to church anymore and I never prayed
even though I came from a very religious school.
I neglected God.

In small groups, with 4 to 5 members per group,

CEVI staff shared their stories and the most
significant changes in their lives.
The MSC results have revealed that most CEVI
staff recognize Gods presence in their lives,
some has acquired deepening faith/relationship
with God, became close to their families,
developed the habit of reading and reflecting
on the Bible while others were able to relate with
their co-employee. Some also said that they

(SELECTED STORY DURING MSC Session)

Story of Ms. Hyacinth Revilles, CEVI Staff.

Then Pre-Selection Training came. I considered

that activity a very important thing because it
brought me back to the arms of God. As we were
contemplating on the Bible verses, I realized how
foolish I was in questioning Gods plans for my
life and family.
I can truly say that, through CEVI, my relationship
with God has restored. I understand now that
what happened to my father was His purpose

18

and plan for me to grow and be more

hardworking. I was guilty and I really asked
forgiveness for my abandonment of His plans. I
did not allow Him to control everything in me.
Now that Im with CEVI, I became eager to know
Him more. I even know how to pray loud and
read the Bible.
When I came to know God, I changed my views
in life. Whenever I have a problem with my
family, I know that God is in control. I learned to
continue trusting His ways and keep holding his
promise to me, that at whatever point of my
life He will never leave me nor forsake me. I
know that God has prepared better things for
me.
I thank God that I became part of this beautiful
family of CEVI.

CEVI Receives Gold Award

CEVI received a Gold Award from Consultative
Group to Assist the Poor (CGAP) for 2010 Social
Performance Reporting to MIX last July 29, 2010
during the Beyond Micro-Credit Conference at
Apo View Hotel, Davao City. This is a recognition
given to MFIs who provide reports on a set of
social performance monitoring indicators that
have been developed and refined through the
Social Performance Task Force.

The Social Performance Reporting Awards,

established in 2009 by CGAP together with the
Ford Foundation, the Michael & Susan Dell
Foundation, and the Social Performance Task
Force, and administered by the Microfinance
Information Exchange (the MIX). It provides a
yardstick for those wanting to assess an MFIs
commitment not only to showing progress in
helping their clients, but also to supporting staff,
and protecting the environment.
There are three levels of recognition:
CERTIFICATE: awarded to MFIs that complete the
Social Performance Reporting Report
SILVER AWARD: awarded to MFIs that complete
the report, and also provide full data on poverty
measurement
GOLD AWARD: awarded to MFIs that complete
the report, provide data on poverty
measurement, and have a social rating that
includes auditing of the poverty tool used by the
MFI through which CEVI got the highest level of
recognition.
For two consecutive years, CEVI was recognized
by CGAP for its integrity and transparency in
reporting and data collection of social
performance. CEVI received a Silver Award in
2009 and a Gold award in 2010.

Shella Gumaod Dellosa, CEVI Social Performance Officer received the award during Beyond
MicroCredit Conference in Davao City.

19

L-R, MorrisonHendrik Riwu Kore, Ruby Jane Alcantara, Shella Dellosa, Kaajal Laungani,
Florideck Pajarillo, Orlando Ducay Jr. during Asia-Pacific Conference in Manila.

Kivas Asia-Pacific Conference Social Performance, Poverty Assessment

More than 100 people in the microfinance
sector from over 40 different organizations,
from Mongolia, Cambodia, Indonesia and
the Philippines, gathered at Kivas AsiaPacific Conference in Manila. The weeklong
event marked the first time that many of
Kivas partners from all over Asia, as well as
other microfinance organizations, were able
to come together in one place. Though
many issues were discussed, the conference
was devoted largely to the topic of social
performance.
Measuring social performance has become
an increasingly important topic in the
microfinance sector. Headlines on high
interest rates and over-indebtedness
question how and if microfinance institutions
(MFIs) are looking out for the best interest of
their clients. As with most Kiva lenders, they
believe in microfinance as a poverty
alleviation tool. A tool to help the
communities it serves by lending money to
entrepreneurs to grow their businesses, and
improve their incomes. They hope that their
money is going to MFIs who are looking out
for the borrowers, not profiting off their
backs. But how can they be sure? How do
they know an MFI is achieving its social
goals? And as an MFI, how can you monitor
your social performance?

The conference, sponsored by Kiva, the

Microfinance Council of the Philippines and
SPACE, focused on how MFIs can use
different tools to ensure they are living up to
their social mission. The two tools discussed
were CERISE (Comit dEchanges de
Rflexion et dInformation sur les Systmes
dEpargne-crdit) SPI (social performance
indicators), and the Client Poverty
Scorecard.
In one of the sessions, Ms. Shella G. Dellosa,
CEVIs Social Performance Management
Officer, presented the CEVIs processes in
using the PPI tool and responded to the
queries of other MFIs who participated the
conference. The Progress out of Poverty
Index (PPI) tool has been implemented by
CEVI since March 2006 in replacement of
Means Test.
Kiva has requested all field partners to
complete the CERISE SPI Assessment by the
end of the year. Though the majority of
Kivas field partners see value in social
performance management (SPM) and
many have already taken strides to
incorporate social performance into their
daily operations.

20

With SPM, an MFI can ultimately hone in on

what is important to their clients and better
serve the needs of target clients more
effectively to build customer satisfaction
and loyalty. This can also lead to increased
competition in the microfinance sector.
In the meantime, Asia appears to be a
regional leader in social performance
measurement. Several of the MFIs at the
conference have hired staff specifically to
manage their social performance, and a
few organizations have been implementing
these tools in recent years.
(1) CERISE SPI is a tool that assesses the
social performance of MFIs by evaluating
their intents and actions. Rather than
evaluating the impact an MFI has on its
borrowers, it measures whether the institution
has the policies and processes in place to
attain its social goals. The CERISE
questionnaire focuses on four themes:
Targeting & Outreach, Products & Services,
Benefits to Clients and Social Responsibility.
It asks specific questions including: Does the
MFI serve clients in rural areas? Does the MFI
allow local branches to adapt their products
and services to clients needs? And does the
MFI have a formal policy on how clients
benefit from the profits generated by the
MFI? Together these questions (and more)
help create a scorecard on the MFIs social
performance. And the social performance
snapshot that the tool generates can help
an institution set new goals.
(2) The Client Poverty Scorecard is a version
of the more commonly used PPI (Progress out
of Poverty Index Grameen) or PAT (Poverty
Assessment Tool USAID), which can be used
to target services and measure poverty
alleviation over time by an MFI. It allows MFIs
to continually or annually rank a borrowers
poverty level based on key indicators. The
scorecard focuses on five metrics: Housing,
Health & Nutrition, Education, Utilities and
Assets. These metrics can be further tailored
to a specific group/region by inserting a
standardized coefficient to allow for better
reporting on individual poverty levels. A

scorecard is best used to measure poverty

improvement as it is simple, inexpensive,
transparent, objective and accurate. Unlike
CERISE SPI, this scorecard does not rate the
policies of the MFI but provides a tool to
directly measure its social impact on its
borrowers.

The 5th Entrepreneurs Congress

Agro-fair 2010
CEVI hosted the 5th Entrepreneurs Congress
Agro-fair in Alcantara, Cebu last August 13,
2010. Five other municipalities namely,
Dumanjug, Ronda, Moalboal, Badian, and
Alegria took part in the activities and
lectures.
Indeed, it was an opportunity of meeting
other entrepreneurs and knowing their
products well. CEVI clients also built
respective booths adorned with agricultural
products. There were also prizes for the best
booths.
Mr. Gaudioso Calibugan, Quality Integration
Officer of CEVI shared his experience during
the congress. He said that, It is good that
we were able to showcase the creativity of
our clients. I am very pleased that livelihood
trainings were included in the program. I am
looking forward for CEVI to conduct another
activity like this in the future.
On the other hand, Mr. Zeno Paquibot, Area
Manager of Visayas 2 also expressed his
modest appreciation to the organizers. I
truly appreciate CEVI Moalboal staff for
handling everything well for this activity. This
is huge activity and its humbling to know
that we did it successfully, he said.
The participants learned a lot as they were
being discussed about Hog Raising, Business
Marketing Strategies, Food Processing, and
Organic Farming. The speakers of the
activity were from TESDA, Feed Mill
Corporation, and World Vision.

26

CEVI Supports MMS Branch Managers Training

With the need of leadership training in every
organization for career development, the
Mitra Masyarakat Sejahtera (MMS) has
vowed to intensify its effort to educate and
equip their people on managers training.
As one of its action plans, MMS sponsored
the three-day Branch Managers Training for
their supervisors and managers on July 1416, 2010 at MMS Office in Jakarta, Indonesia.
A microfinance subsidiary of World Vision
Indonesia, MMS is part of VFIs development
assistance effort in providing financial help
for the small entrepreneurs well being.

Mr. Floredick Pajarillo, VFI Business

Development Manager, led the training in
discussing the Branch Management and
Delinquency Management with the help of
CEVI Human Resource Manager, Ms.
Madeline Guibao.
Through this training, I was able to learn the
dynamics of MMS that can also be
replicated here in CEVI, Guibao said.
The 14 participants were trained to
demonstrate improved management
functions
and
apply
innovative
management techniques to help nurture
and develop staff competencies.

CEVI and VFI Indonesia Joint Board Development Training

VisionFund International (VFI), the
microfinance subsidiary of World Vision has
conducted Board Development Training
for Community Economic Ventures Inc.
and VFI Indonesia last July 1-2, 2010 at the
Meralco Management Leadership
Development Center (MMLDC), in Antipolo
City, Philippines.
The training aimed to develop the
effectiveness of the Board in the VFI
affiliated MFIs as they perform their crucial
role in the organization.

Jemimah
Muturi,
VisionFund
International Director of Corporate
Governance was the resource person
of the training. This is the first time that
the VFI has conducted joint Board
Development Training for CEVI and VFI
Indonesia.
The Board has appreciated the training
and believed that the knowledge that
they gained can usefully supplement
its ability for better governance in the
organization.

23

VFI Leaders, Visit CEVI

VisionFund International (VFI) CEO and
President, Scott Brown, VFI Board
Chairman, Dick Richards, and VFI Board
Simon Mckeon were on a brief visit to the
Philippines and to CEVI last August 2010.
The CEVI Executive Director, Jonar. B.
Dorado warmly welcomed the three VFI
leaders,
and
had
meaningful
conversation with them about CEVI and
its operational highlights.
They later toured and visited some of the
CEVI borrowers to know about how their
businesses affecting their lives and family.
They also have the opportunity to meet
the senior management of the World
Vision Philippines and the officers of the
ASIAN Development Bank.
Indeed it is a privilege to be visited by
three of the pillars of VFI. This truly shows
of our strong integration with them as well
as the depth of our partnership, Mr.
Dorado said.

The visit has concluded successfully. It

underscores the strength and breadth of
the relationship of CEVI, World Vision and
VFI.

24

CEVI Currently Operates 26 Branches

Across the Philippines

25

CEVI PRODUCT PORTFOLIO

CEVI offers four loan products catering to economically active poor namely Yaman, CROP,
BABE and Asenso loan. Yaman loan product that targets micro-entrepreneurs involved in
trading and commerce has covered 46.78% of the portfolio that is offered in almost all of the
branches nationwide. Crop Loan on the other hand is second, 42.86% that targets microentrepreneurs involved in farming.
The Asenso Loan, which targets the small and medium scale entrepreneurs, existing or new
clients with greater need of capitalization in their businesses is 7.73% in terms of portfolio.
While BABE Loan in Bais, Estancia, and Sara Ilo-ilo that targets micro-entrepreneurs involved
in hog raising is 2.63%.

SOCIAL PERFORMANCE
Women Outreached

Children Impacted

89%

102,535

Job Created and Sustained

55,000

26

Child Well-being Outcome

When Gerald Job Tumales Mother
became a client of Community
Economic Ventures, Inc (CEV), he
began to notice a change in his family
life. When my mother joined CEV, I
noticed more encouragement from her,
especially when we were dealing with
others. She urged us to be more
ambitious in life and to be more active
in the community. In my personal life, I
would study, but learned to put God first
in every area of my life, he says. It is
okay for me that she has taken a loan
from CEV because my family can
provide for their needs. We have seen
improvements in our living with clothing
and food.
One of the reasons why the Tumale
Family transferred from Sierra Bullones to
Tagbilaran was so their children could
get better schooling. The move was
difficult, especially since they had to
slowly build their home from a small tent,
adding posts one at a time and paying
for their lot on installments. Though the

family has had financial difficulty, the

eldest son, Gerald says, I knew God
would allow me to go to college I didnt
lose hope even though I knew my family
might not be able to afford. My plan was
that if we cant afford it, I will apply for
scholarships. If the scholarships didnt
work out, I planned to be a striver.
Geralds positive attitude and
perseverance paid off when he was
awarded a full scholarship to Bohol Island
State University where he currently is an
honor student.
This past September, Gerald Job Tumale,
21 years, was invited to compete in an
engineering competition held at the
Taiwan National Center for Research on
Earthquake Engineering (NCREE).
Gerald, a civil engineering student,
expressed his enthusiasm saying, I felt
happy and excited to have the
opportunity to be there for the
competition. I was also excited and
nervous to be traveling alone for the first
time.
Though Gerald was proud to be
representing his school and his country in
this competition, he grew a bit
concerned when he learned that his
university had insufficient funds to support
his travel.
Therefore, he began
proactively seeking support from NGOs
and other organizations. Geralds
Mother, Mrs. Tumale, sought aid for her
son from CEV. When they received word
that CEV would be able to provide some
assistance, we felt happy and thankful
to God. God gave us a solution, says
Gerald. He was glad he would be able
to cover the expenses for competition.
While in Taiwan for the competition,
Gerald describes an exciting atmosphere
where many contestants and coaches

Philippine Team during IDEERS Competition

27

were focused on engineering the best

model buildings for the shake table
contests. For 6 hours, teams worked to
model buildings out of small wood
pieces, glue, rubber bands and paper.
The Philippines team ranked 12th place
out of 42, a huge victory indeed!
Traveling to Taiwan for the international
earthquake engineering competition
was truly an eye-opening experience for
Gerald and his peers. In Geralds words,
After the competition I felt happy and
self-fulfilled. I really enjoyed learning
about another culture, meeting other
people, and was proud to represent my
country. Competing in the IDEERS
(Introducing and Demonstrating
Earthquake Engineering Research in
Schools) competition was a huge
accomplishment, though Gerald has
much bigger dreams and aspirations in
mind. After he graduates from his course,
he hopes to put his degree into practice
so he can help his family. Gerald also
has a big heart and wants to help the
ministry and be involved in church. He
wants to set a good example and help
other people in the community.
As the interview came to a close, Gerald
left us with a few last words: My advice
to other students and children is to
believe in God and grab opportunities
that come your way. Keep praying to
God and leave everything to Him. Strive
for your dreams and work toward your
plans. Thanks to CEV and other funding
agencies that helped me to go to
Taiwan. Thanks to God. Thanks to the
schools who gave me and students the
chance to be involved in international
competitions.
Gerald is an honor student at the Bohol
Island State University. He will be
graduating in March 2011.

This is our interview with Gerald regarding

his competition, family, and the support
he received from CEVI.
Can you tell me a bit about the
competition that you attended?
The competition called Introducing and
Demonstrating Earthquake Engineering
Research in Schools (IDEERS) took place
at the Taiwan National Center for
Research on Earthquake Engineering
(NCREE) from September 24-26, 2010.
Gerald had undergone several
elimination rounds at my university, and
after passing those rounds he was
selected to compete against 42
contestants in this international
competition. This was the first big
competition he has attended so it was
very exciting.
How did you feel when you were invited
to this competition?
He felt happy, excited and grateful for
the opportunity to attend the
competition. It was also his first time
traveling outside of the Philippines so he
was excited for that, yet nervous.
Did you have any concerns about not
being able to attend the competition?
Yes, the financial support from the school
was insufficient so we had to make
solicitations to NGOs and other
organizations.
What was your response when CEVI
offered financial assistance?
I was very happy and thankful to God.
God gave us a solution. At first it was a
problem for me because my family
could not cover the expenses.

28

Can you describe your experience at the

competition? During the competition we
were very excited, especially when we
had to submit our entry (?). It was exciting
to see the other contestants and
coaches. We were given 6.5 hours to
make our models using thin pieces of
wood, glue and rubber bands. Then they
collected the miniatures and placed
them on a shaking table, testing our
structures ability to stay intact at different
(seismic??) levels. We placed 12th out of
42 entries.
How do you think your brothers feel that
you were able to compete? I think my
brothers (7 and 17) are proud of me
because I was chosen to represent my
country (in this competition).
What stands out to you most about the
experience? After the competition, I felt
very happy. Attending the competition
was a self-fulfilling experience I was
able to learn about a new culture, meet

people from many different countries,

and proudly represented my country in
this international competition.
Now switching gears, how do you feel
about your mother taking loans from
CEVI? It is okay for me because my
parents can provide for the needs of our
family. The weekly payments are
manageable also.
Have you observed any changes in the
way your mother manages her business
after she joined CEVI? I have noticed
that our family has become better at
budgeting since the payments to CEVI
are weekly. The loan from CEVI has been
especially helpful during needy times.
Additionally, we have developed a
good relationship with the other
borrowers and their families. It has been
a good social improvement for us and
brought our community closer.

Gerald and family at CEVI Head Office

29

Have you observed changes in your

household?
Yes, from the return in profits we have
seen improvements in our living situation,
also in terms of food and clothing.
Mom: I can better meet the needs of my
family now. I was able to start my food
processing business and sell lots of snacks
like banana chips, sampaloc (tamarind)
candy, and other delicacies like kamote
(sweet potato) candy. I can provide
better food to my family and also fund
their education and set money aside for
their allowance.
Do you and your siblings help your
mother with her business?
Yes, on Saturdays we help her make food
products.
What are your hopes and dreams/
aspirations?
I will be graduating from my course in
March and I would like to get a job to
help my family. In terms of my spiritual
life, I want to help the ministry and help
in church. I want to help my brothers and
other people.
How has CEVI impacted you (i.e.
values)?
When my Mom joined CEVI I had more
encouragement, especially when
dealing with others in the community. I
am living more ambitiously. In my
personal life, I really focus on my studies
but I put God first in every aspect of my
life.
If there is any advice you can give to
young people growing up in the
Philippines, what would it be?
I would tell them to keep a strong faith in
God and to grab any opportunities. Keep
praying to God and leave it to Him.

Do you have anything else you would like

to share? I would like to thank CEVI and
the other funding agencies that helped
me to go to Taiwan. Their support really
helped with financial matters. I would like
to definitely thank God and to thank my
school for the opportunity for myself and
other students to get involved in the
international competition.
I knew God would allow me to go to
college I didnt lose hope even though
I knew my family might not be able to
afford. My plan was that if we cant
afford it, I will apply for scholarships. If the
scholarships didnt work out, I planned
to be a striver.
More about Gerald and his family:
The family originally lived in Sierra Bullones
(80 km from Tagbilaran) and after high
school, they transferred to Tagbilaran so
that Gerald could pursue his education
at the university (its one of the reasons
they transferred). It was expensive to
transfer but worth it because he received
a full scholarship to the university.
Gerald also received a scholarship for
the University of the Philippines but
unfortunately, the family was unable to
afford the Php 10,000 to cover his
expenses.
It was difficult with one son in college and
one son in high school so Mrs. Tumale
began to deliver food to clients. Her
husband, a carpenter, began to build
their small house a one-room tent. They
slowly began adding posts and slowly
were able to pay for the lot on
installments. In 2007, Mrs. Tumale began
attending seminars with the International
Care Ministry of the Philippines, Inc.
(ICMPI) and eventually began to teach
pre-school.

30

CEVI has brought out the best in me...

CEVI is not just a micro-finance that caters the financial

and spiritual needs of its clients and staff. It is a ministry
with holistic vision for the people, which enable them
to experience fullness of life.
It was 2003 of March when I started joining in this
organization. From then on, I have learned so
much and acquired many skills. CEVI has
brought out the best in me not only as an
employee but as a leader as well.
CEVI will help you develop your confidence
to lead and discover your strengths in
doing your job.

GLENN C. ANCIANO
CEVI Area Manager Visayas 1

31

CLIENTS SUCCESS STORIES

Food and Education

Maria Serion is a mother of 9 children who always
believes that Education is our key to be
successful in life.
She is a resident of Bulubundukin, Pulot Center
Sofronio, Espaola, Palawan and has been a
CEVI client for almost 4 years. At the age of 55,
she never stopped aiming and dreaming for the
future of her children. In fact, most of her children
have finished college. Three of her children are
in college, two of which will graduate this March,
and the other one is still in second year. With the
help of her husband, Jovert Serion who is working
as a plumber, they are able to cover up for the
school expenses of their children.
Maria Serion has been managing a small
restaurant (Carenderia) since 1980. She saw a
big opportunity to cater the needs of the
employees of her towns municipal hall, so she
decided to put up another restaurant in 1998
within the area. Her child, who is married,
manages her other restaurant situated in her
house. Her family also has boarding house with
15 students as occupant.
Currently in 9 th cycle, Maria availed a loan
amount of PhP 25, 000.00. In 2007, she received

her first loan from CEVI amounting to PhP 4,000.

The loan was invested to her restaurant.
Her small restaurant has daily sales of P 3,000.00
with revenue of P 1,000.00. This has helped her
repay her weekly due of Php 1, 511.00 and buy
the educational needs of her children. The loan
I borrowed did not only help my business but
most importantly it greatly assisted the education
of my 3 college students, said Maria Serion.
She is a Chairman of their Cluster Association and
of the Federation of Officers in 17-cluster
associations in Espaola. As a leader she never
forgets to encourage her members to be
responsible borrowers. CEVI molded her to
become a good leader. She does her best to
set a good example to her members and always
lives her life full of inspiration.
Maria Serion is just one of the many CEVIs clients,
who are dedicated and committed to their
family. She dreamed of better future for her
children and believed that her dreams will come
true if it is accompanied with perseverance, hard
work and above all, trust in God.

32

Living By the Sea

Nancy Rico is an entrepreneur that lives in the
province of Bohol, particularly in one of the
islands of Talibon, the Nocnocan Island. She is
now 33 years old and married to Gino Rico, a
34-year old fisherman. They were blessed with
two kids named Francis Robert and Gino Jr., ages
5 and 1 year old respectively. Together they
support each other in sustaining their every day
living.

other fishing supplies. They used the boat to

catch fish, which gives her family additional
income. Her husband also does spear fishing
at the depth of the seas of Talibon. Through this,
they are able to sell big fishes in Cebu. At the
ocean floor her husband also collects sea
cucumbers and different kinds of shells, which
they sold for exports. To date, they have
acquired three fishing boats.

Nancy started her entrepreneurial journey with

CEVI on year 2002. She needed a capital of
15,000 Php to put up a variety store at her home.
The amount was raised through her first loan in
CEVI of 4,000 Php and her husbands earnings
from fishing shouldered the remaining. Nancy
kept on reloaning from CEVI and because shes
a good borrower, she was able to loan bigger
amounts. Currently she has a loan of 26,000 Php.

When asked how she managed her businesses

and what challenges she met, she said that, she
has a storekeeper at her retail store who helps
her entertain the customers. She also has
difficulty in managing her workers especially
when they keep borrowing money from her.

She was not contented with her retail store. She

bought a fishing boat that cost about 100,000
Php including the engine, air compressor, and

Nancy is happy that her children are healthy and

her businesses are doing well. Her only hope for
the future is to put up a wholesale business, which
offers more supplies at an affordable cost. In this
way, she could provide daily supplies not only
for her neighbors but to her family as well.

33

Water is Everything
Water is life, without it, we will not survive. While
most of us have enjoyed the abundance of
water in our homes, there are places in the world
where people have poor access of potable
water.
Camdas, Elnonok Banga, South Cotabato in
Mindanao is an upland area, which is blessed
with diverse vegetation. Farmers have grown
rice, corn, bananas, coconut and rubber tree
to support their families. They also grow cows,
goats, carabao to be able to supplement their
income. The community lacks resources of
potable water.
Emelina Diaz, 50 years old farmer has utilized her
two succeeding loans from CEVI to build a water
tank. Her loan of 150,000PhP has provided clean
drinking water to more than 50 households in her
community including the local school and
barangay center. From her business, she earns
enough income to buy the family basic needs.
She has four children. Three of which have
graduated in college and the other one is still
fourth year high school. She plans to fund the
education of her youngest child with the
additional income that the loan will provide. In
the future, she hopes to continue expanding her
business and to take advantage of other income
opportunities.
I will not thirst and I will ensure that my family
will have enough clean water to drink and use
in performing the daily chores in our home, she
said. Water is important to us and without clean
water, our families would die and would go
thirsty, she added.
In addition to water, Emelina also started a farm,
which has a size of eight hectare. She grows
cows, goats, corn and coconuts. With this, she
employed four farmers, a native called Tboli
in South Cotabato to work in her farm. By doing
this, she was not only expanding her business but
also able to generate employment.
I love doing what I do now. I manage a business
and at the same time help my fellow farmers
have their own livelihood. This shows of my
purpose, which is to help every families in our
community and be able support my family.

To date, her businesses have helped her family

earned a better income. She has bought
additional lands, planted more crops, provided
the needs of her family and created livelihood
to the community.

34

The Benefit of Savings

To keep my business working and growing, I
need to set aside money for more savings, this
is what Evangeline emphasized as one of the
ways on how she was able to manage all her
businesses. She runs a general store, Internet
caf, and a videoke machine. These businesses
didnt come at once, it all started with a little
capital, a little hard work, and a little courage
to venture in doing business transactions.
Her full name is Evangeline Lambo. She is 33
years old and has been married to Leonelle
Lambo since 2001. They were blessed with three
children; Leonelle Jr., Ivan Lee, and Kathryn
Joyce. Their ages are 10, 8, and 2 respectively.
Her eldest boy who consistently receives first
honors in school makes her a proud mother. Her
two kids, who are in elementary grade dreamed
of becoming a lawyer and a doctor someday.
Evangeline finished a degree in Banking and
Finance. Right after her graduation in 2001, she
got married. They settled in the town of
Alcantara, Cebu. At that time the couple was
very hesitant to enter into any kind of business
due to a lack of experience. But they need to
have a livelihood in order to sustain their family.
With a capital of 10,000 Php, which Evangeline
asked from her parents, they were able to start
a general store.
Later that year, she heard about CEVI and joined
other entrepreneurs avail of its financial service
to grow their business. In her succeeding loans,
she has bought two Videoke machines that cost
about 40,000 Php each as her additional source
of income. Then she put up an Internet Caf

that has 13 computers available for customers,

who wish to surf the Internet and play games.
Because she paid her obligations well in CEVI,
she was able to request a loan amounting to
150,000 Php, which she used in constructing a
building.
For ten years that she partnered with CEVI, she can
proudly say that her business has grown. Aside from
providing financial assistance, CEVI also taught her
to save money and be a responsible borrower.
Everyday, she kept 400 Php from her business so that
when its due time for payment, she has available cash
for it. Whenever she has income, she set aside a
portion of it to generate savings.
Evangeline shared her experiences on how she has
met difficulties and was able to face it. When you
are rising, people will try to pull you down. When you
have a unique idea in business and it works, people
will copy it and compete with you. When youre
succeeding, not all people are celebrating with you,
some get jealous.
There was a time when she started to construct a
building and someone was stopping it. Her Videoke
machines took a rest for a while because people
around her neighborhood complained. Despite all
these challenges, she has hope that everything will
be fine. And what really concerns her now is the
health of her only daughter, who is 2 years old and
very prone to sickness. She is saving more money so
that she can support the needs of her daughter.

Evangelines dream is to put up a big business

place in towns of Cebu. She is very dedicated
to have more savings for the education of her
children. She wants them to achieve what
theyve dreamed for in the future.

25

Integrity and Trust

Robella Antigo lives in a small town of Sta. Josefa
Agusan del Sur. She owns a farm and a drugstore
in her local community.
She has two children, Steff Dyan, 3rd year high
school student and Prince Robin, grade five
pupil. Both of her children desire to become a
Pharmacist or a Doctor someday.
In 1992, Robella started her small drugstore. She
did it to support the needs of her family and send
her children to school. Although, the start was
not easy, Robella took the risk to establish her
business. She has applied a loan of PhP 30,000
from Community Economic Ventures Inc. (CEVI)
to buy additional stocks of medicines in her
drugstore. Her business allows her to earn PHP
2,000- PHP 3,000 a day. With the additional
income from her drugstore, she was able to
provide enough food and other needs of her
family.
She would like to share that when she was in high
school, her grade in Physics and Math was 75%.
Her parents were very disappointed at her and
have demanded that she needs to improve her
grades in these subjects.
Her husband, Ponciano Antigo helped her to be
confident in managing a business. She also
received advises from other entrepreneurs, who

are also members of a cluster group that was

organized by CEVI.
Then she realized that, business isnt about
numbers alone. Business is more about integrity
and trust, she said.
In my experience as a drugstore owner, I
realized that it is important to maintain good
relationship with the sales agents. It is important
to honor your word so that they will continue to
trust you and let you sell their products, she
added.
Robella talks to her customers respectfully and
she never forgets to say thank you to those who
buy medicines from her store.
Her place was filled with variety of medicines
and now, she offers a photocopy service, a sarisari store and an ice cream parlor. Having a
variety of business helps Robella to meet the
needs in their family. That is why, in addition to
drugstore, she also runs a rice farm business. She
employed two farmers to manage it She said,
In this way, I was not only expanding my
livelihood but generate employment as well.

36

CEVI is one of my TREASURES.

I am always grateful to be part of the CEVI family.

For a decade that I worked here, Ive witnessed
how the organization CARES for its staff.
CEVI has given me rich experiences that can
make me say its one of my TREASURES.

MADELINE M. GUIBAO
CEVI Human Resource Manager

37

AUDITED FINANCIAL STATEMENTS

38

39

40

41

Network and Partners

World Vision Development Foundation
World Vision ADP Partners,
VisionFund International
Microfinance Council of the Philippines
Peoples Credit and Finance Corporation
Grameen Foundation
Mercantile
BPI Globe
PLANIS
Kiva

Community Economic Ventures, Inc.

Sarabia-Co-Torralba Building 2, Espuelas Street, Tagbilaran City, 6300, Philippines
Telephone: (038) 412-2356 | 501-0170 | 235-5463
Fax: (038) 412-2356
http://www.cevi.org.ph