By Esperanza | July 06, 2016

What is the Bank of Esperanza?

Banks of Esperanza are the platform through which Esperanza International is able to engage with their associates. A Bank provides an opportunity for community, friendship, solidarity, and growth. A bank is a place where people can learn and teach, grow and realize.

Banks of Esperanza are the platform through which Esperanza International is able to engage with their associates. A Bank provides an opportunity for community, friendship, solidarity, and growth. A bank is a place where people can learn and teach, grow and realize.

Dios Bendice (God Bless) is a BDE in a sugarcane community, “Bateyes,” just outside of La Romana. The bank’s longest long-holding relationship with a current associate is 13 terms (around 7 years.) This bank started small, but now consists of 8 groups (45 associates). This incredible growth is, without a doubt, credited to God. Thus, prior to beginning every meeting, these associates pray together and sing to their Creator. After, the meeting and repayments begin. In order to properly understand who this group is, let’s highlight 2 of their associates.

Berta Fransua is a passionate entrepreneur, always ready to care for the clients. She has spent 48 years in the area near La Romana, beginning her business 5 years ago with the help of her first Esperanza loan of 5,000 pesos ($108 USD). She runs a small colmado, which is similar to a small convenience store in the US. Like any good colmado owner, she sells different types of food, but what separates her business is that she has a massive refrigerator for refreshments. Her loan capital allowed her to purchase the refrigerator and expand her business.

“The refreshments are real popular when it is hot” she exclaims, reasonably, as a nice cold drink is sometimes hard to find in a Batey. By paying attention to her clients, she realized there was a demand for motorcycle oil and gasoline. Thus, she went out to Higuey to purchase the materials and now her little colmado frequently is home to many motorists. If Berta was to receive a new loan right now, she would use it to buy more motorcycle gasoline and inventory for her shop.

Moving forward with Ana Rodriguez, who is practically the mother of the town. It’s hard to walk 10 feet in this community without someone screaming her name to say hi, or a little kid stopping by to give her a hug. Ana has spent 17 years cooking what she calls “great chicken”, plantains, and fried bread, as well as selling various other snacks. Ana is a hard worker, dedicating her life to her large family. She has 4 children, ages 29, 24, 21, and 18. She says that it’s always about the family, “I love spending time with my family”.
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Looking onto the horizon, she has a couple dreams, such as owning her own house. However, she leaves a lot of the future up to God, “If God tells me to stay with my business I will.” If Ana received a new loan right now she would use it on purchasing chicken and other inventory items for her little restaurant.
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After this particular meeting, the entire bank prayed for one of the associates who is currently sick. This associate was planning to have a procedure done that weekend on her stomach, so the group prayed for a safe operation and that God’s hands would be on her. We pray only the best for her.

This is what Banks of Esperanza are. This is what Esperanza does. This is God’s work.

Come alongside us and give the gift of a hand up. Supply a loan for an associate, allowing them to organically enhance their business and add security to their life. Invest in the restocking of Berta and Ana’s shelves.

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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