“Hope is a waking dream” –Aristotle
Eight years ago, Mercedes heard of Esperanza through a friend. She decided that she couldn’t develop her small business on her own, so she did some investigation and learned more about the Bank of Esperanza in her community. “I took the chance, entered Esperanza, and have loved it ever since!” exclaimed Mercedes. She further expressed that she has obtained a lot of benefits from Esperanza; “I’ve learned a lot too, especially how to save, because I used to waste my money; ever since I saw the importance in saving, I created a savings account in a formal bank and have been contributing to it whenever I can.”
Mercedes lives in a waking dream, where she prays and works to attain a better future. With 6 kids, the youngest being 12, she works hard growing and selling produce to her clients. In her community, she mainly sells viveres (vegetable roots), which are one of the main sources of sustenance for the majority of the Dominican Republic’s low-income population.
These vegetable roots are mainly eaten at breakfast and dinner times, accompanied by meat, cheese, or eggs. Thus, Mercedes has a good base of clients. To reach her customers, she sells her products wholesale to colmados (corner stores), or directly at church events, businesses and individually when she goes by people’s houses.
Looking into the future, Mercedes wants to see her business grow, and has planned a project to build a fixed locale where her clients can come to her. She plans to use some of her savings to build the locale, however it will take about $4,300.00 USD to build the structure she has in mind. Mercedes is hopeful and exclaims: “With the help of Esperanza my dream to have it will come true!” Help Esperanza make Mercedes’ dream come true by donating today!
Microfinance is a banking service which exists to serve the material poor in emerging economies. Through this lending process, loans are distributed to entrepreneurs for investment in their business.
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