Banks of Hope
- Women in the Dominican Republic do 67 percent of the work and own 58 percent of the businesses.
- They utilize their resources to take care of their childrenwith better food, safer housing and increased schooling.
- These same women lack access to credit as well as the knowledge of developing and running a business.
- Economic development within individual families results in better economic conditions for entire communities.
Small business loans for women and their families can break the cycle of poverty, by generating income, education, health and self-worth. Esperanza International has become one of the leading microfinance service organizations in the Dominican Republic and the largest lender to the poorest of the poor through its "Banks of Hope" program.
|A grateful family helped by Banks of Hope. (MLBPA)
The Players Trust has committed $300,000 to establish Banks of Hope in three communities. Because the loans are repaid with interest, the Trust's initial grant will provide ongoing funding for the program for years to come.
To date, with the assistance of the Players Trust, Esperanza has begun to combat poverty with:
- Number of loans granted: 4,763 loans granted
- Lives directly impacted: 30,270
- Loan amount disbursed: $1,266,345
- Average loan size: $267
- Repayment rate: 100 percent