Staff members and employees from Esperanza made a trip to the Dominican Republic last month to discover all the fruits of their labor which were made possible by all the investment and donations of generous givers. Esperanza offers a comprehensive approach to poverty alleviation. Their foundation of microfinance supplemented with holistic health and education services is woven together with the love of Christ to bring a fullness of restoration. Providing intimate and tailored services that address the physical, emotional, and spiritual needs of our Associates, Esperanza’s model recognizes the unlimited potential for growth and self-worth in those they serve.
The staff began their field visit by attending four Banco de Esperanza/repayment meetings in San Pedro. Typically 15-20 associates gather for this meeting to see the status of their loan repayments which are usually paid off bi weekly. The Loan Officer of the Branch Office in closest proximity to their homes facilitate all the funds. Each bi-weekly repayment meeting opens with prayer, devotional, and worship. The loans are then counted and repaid by the Loan Officer.
The staff then visited their Associate's businesses including community colmados (grocery stores) which sell produce, botellones de agua (water bottles), and cooking supplies. Most Associates have families and the revenue earned from their business is used to provide for their children. For example, one of their associates named Juan sells pork on the side of the road as his business. His dream is to expand his business so that his children will have a hopeful future.
All the employees from every branch meet together in Santo Domingo at the end of the year to celebrate their Annual Christmas Party. In total, 9 branches including the central branch in Santo Domingo gather for one immense celebration.
The celebration opens up with the CEO and Founder, Dave Valle, sharing his founding story of Esperanza. Next, awards are distributed to the branches for Best Loan Officer and Best Branch Office. The party then closes to celebrate what God has done to provide for the Associates in 2017.
At Esperanza the average loan is $330. The repayment rate stands tall at 97%. Women associates make up 85% of the company and historically $74,829,045 in loans have been disbursed.
In order to get directly involved with the mission of Esperanza visit their website.
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