Fuente Para El Desarollo 1 Group

Reina is the group coordinator of the Banco de Esperanza (Bank of Hope) Fuente para el Desarollo (Source for Development). Her story is representative of both her group and Esperanza's Haitian (many of whom recently emigrated from Haiti to the DR) and Dominican clients more generally. Her group is based in the Samaná peninsula in eastern Dominican Republic, in an area where both running water (none of which is potable) and electricity are unreliable at best. Here she makes her home in a simple structure of wooden walls and a tin roof, with her husband and young child.

Reina came to Esperanza originally because of the low interest rates and ability to save money in a secure place. She has become a trusted Esperanza associate and this will be her ninth loan with Esperanza. She will use this loan to invest in her business selling clothing by purchasing a dozen each of blouses, skirts and pants. She sells her clothes in her neighborhood to neighbors and friends who have become trusted customers. Her business has proved itself profitable and is her family's primary source of income.

With the profits from her business she plans to continue investing in her business,replacing her walls with concrete (a benefit for any home in the hurricane prone DR) and to purchase notebooks, uniforms, shoes and clothing for her child. In the long term her goal is to continue remodeling her home. She thanks you all for your support.







About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

Subscribe