Meet Lorenza Gil– she is 64 years old, a mother, an Esperanza borrower for over 11 years! She has used her loans to help her daughter set up a beauty salon and a barber shop (pictured above). Lorenza says, “I was able to start my business because of Esperanza and I hope that when I’m no longer here, my daughter will continue to be a part of Esperanza; she’ll be in good hands.”
She explained that even though she did not get an education, she has been blessed to make a decent living. She has succeeded thus far because for every $100 pesos (about $2 US dollars) she makes, she spends $80 pesos on necessities and saves the other $20 pesos. She was encouraged to save even more when she learned at an Esperanza repayment meeting about the importance of saving in case of emergency. She tries to save as much as she can since she wants to be ready in the case of a medical emergency.
Lorenza also shared that she learned how to read with the bible! Therefore, one of her favorite aspects of Esperanza is that she receives a lot of guidance through the devotionals at the beginning of each meeting. Additionally, Lorenza, has received several pap smear tests and the health services is one of the things that makes Esperanza unique.
Esperanza reaches people through microfinance, but our goal is to reduce poverty and restore broken relationships on a spiritual, social, and economic level.
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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