Fermin Cruz, 63, lives in the Casa Colorada community in the eastern part of the Dominican Republic with his wife Marta. He owns a workshop, and is proud to say that his business has grown and improved considerably since he first opened his shop 20 years ago. He is a talented man who makes high-quality cabinets, desks, and other household necessities, and he can repair items just as well as he builds them. For the first decade that Fermin owned his business, he did not have access to financial services and often struggled to make both business and personal ends meet. His capital, materials, and equipment were constantly limited and restricting the growth of the business. He and his wife weren’t where they wanted to be.

Then, Fermin heard about microfinance in 2006 when a loan officer came to Casa Colorada to inform community members about the services offered by Esperanza. He took the opportunity, applied, joined a Bank of Esperanza called El Buen Futuro (“The Good Future”), and received his first loan. Since then, Fermin has taken out 17 successive group loans of varying amounts. His first loan was only $75, but due to his continued success and repayment, he has recently been able to take out a loans for as much as $400. These loans have given him the opportunity to purchase key items for his workshop, such as a computer, reliable electricity, and an electric router.

His investments have allowed the business to flourish, and he proudly reports that his family has not faced economic difficulties since he became a member of Esperanza. Members of his community trust his work, and he feels a sense of pride knowing that he can consistently deliver for them. Several years ago, Fermin also received a ‘Living Loan’ from Esperanza to renovate his home for approximately $2,800 USD. This allowed him to build the sturdy concrete home that he and his wife now comfortably enjoy, pictured below.
​

Through his involvement with Esperanza, Fermin has witnessed transformation in areas of his life beyond his home and business.  He is grateful for the devotional time that is always held during Esperanza´s biweekly repayment meetings, and feels that he and his fellow bank associates have learned a great deal about how their faith should impact their work, and how they should work to serve the Lord. Fermin typically does not have free time due to the demands of his business, but he always makes time for attending church, studying the Bible, and visiting those who are sick. Fermin also believes that Esperanza has improved his community because it has given individuals the ability to work, saying, “For me, Esperanza has been a very good organization because in Esperanza, we found progress.”