Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner.

ASPIRE is a Christian nonprofit organization, founded in 1983, with the goal of promoting the holistic development of Dominican families that fall in the poorest sectors of society through the provision of loans, technical assistance and education, founded in Christian values. 

Since its founding, ASPIRE has provided thousands of loans to thousands of owners of micro and small enterprises, offering them the opportunity to develop their businesses as a means of supporting their families.

ASPIRE is characterized by its multi-faceted approach to the development of its clients – not only through loans but also through the provision of technical assistance provided by loan officers. This assistance consists of both business and personal trainings, led by a team of qualified instructors. Every year, thousands of ASPIRE’s clients receive assistance from the technical advising team. 

ASPIRE currently works in four regions of the Dominican Republic– in the city of Villa Altagracia and in the provinces of MonseñorNouel and La Vega in the North; in the province of San Cristóbal in the South; in the province of San Pedro de Macorís in the East; and in the Distrito Nacional, where ASPIRE’s headquarters is located and where five other branch offices are located: in the city of Los Alcarrizos, the city of Villa Mella, and in the neighborhoods of Los Frailes, Herrera, and most recently, Los Mina.


Products and Services:

The products and services that ASPIRE offers its clients are:

--Individual Loans: Directed toward individuals with businesses, who receive loans with an average repayment period of one year.
 

--Group Loans: Consist of a loan to groups with shared risk and support, directed primarily to women with businesses for their subsistence, and generally in groups of 2 to 4.
 

--Loans to Private Schools: Directed toward entrepreneurs in the field of education, for the purchase of equipment and materials, as well as the construction, renovation and expansion of their facilities.
 

--Financing of Goods and Equipment: Financing for goods and equipment commonly required for small businesses and homes.
 

--Technical Assistance: Timely advice to clients on specific decisions related to financial issues.
 

--Personal and Business Development: Training in themes as diverse as self-esteem, child-raising, budget management, debt management and the promotion of savings.


Organizational structure:

ASPIRE is governed by an Assemblyof 23 members, within which an Executive Board is selected every two years.  The Executive Board consists of: the President, First Vice President, Second Vice President, Secretary, Treasurer and two Members-at-Large. The Executive Board meets bi-monthly.

ASPIRE is administered under the leadership of an Executive Director, who is responsible for overseeing the implementation of the institution’s operational objectives.


Partnerships:

ASPIRE is an active member of the Opportunity International Network, a network of close to 40 organizations worldwide, which has its headquarters in Chicago, USA.

On the local scale, ASPIRE works with a group of organizations in the field of micro and small enterprises, which include: Red Dominicana de Microfinanzas (REDOMIF), Fondomicro, ADOPEM, Red El Camino - República  Dominicana, and Esperanza International, among others.


Vision:

To become a leader in the promotion of the holistic development of families with microenterprises in the Dominican Republic, founded in Christian values, sustainability, and having a nationwide reach.


Mission:

To promote the holistic development of families with microenterprises in the Dominican Republic through the granting of loans, technical assistance and education based on Christian values 


Values:

--Integrity

--Commitment to the Poor

--Responsible Stewardship

--Respect

--Christian Love


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva May 29, 2012 Oct 12, 2005
Total Loans $81,275 $608,329,400
Amount of raised Inactive loans $0 $582,625
Number of raised Inactive loans 0 484
Amount of Paying Back Loans $0 $122,320,675
Number of Paying Back Loans 0 131,367
Amount of Ended Loans $81,275 $485,426,100
Number of Ended Loans 122 614,300
Delinquency Rate 0.00% 3.71%
Amount in Arrears $0 $2,971,692
Outstanding Portfolio $0 $80,096,340
Number of loanDelinquent 0 13,452
Default Rate 0.33% 1.10%
Amount of Ended Loans Defaulted $266 $5,357,098
Amount of Ended Loans $81,275 $485,426,100
Number of Ended Loans Defaulted 1 16,819
Currency Exchange Loss Rate 0.01% 0.09%
Amount of Currency Exchange Loss $6 $572,888
Refund Rate 1.38% 0.75%
Amount of Refunded Loans $1,125 $4,553,925
Number of Refunded Loans 1 5,085

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 70.73% 74.22%
Average Loan Size $670 $419
Average Individual Loan Size $670 $656
Average Group Loan Size $0 $1,831
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $7,611 $3,423
Average Loan Size / GDP per capita (PPP) 8.80% 12.24%
Average Time to Fund a Loan 3.69 days 5.72 days
Average Dollars Raised Per Day Per Loan $181.76 $73.23
  Average Loan Term 12.84 months 10.42 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 7 303,265
  Journaling Rate 5.83% 42.41%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.83

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 40% PY 41.00% PY 33.29% PY
  Profitability (return on assets) 6% 1.1% -1.37%
  Average Loan Size (% of per capita income) 10.80% 8.00% 38.28%

Country Fast Facts

Field Partner Staff

Digna Margarita Almomte
Raida Elisa Breton Soto
Emma De la Cruz Rodríguez
Luis Rosario Eduardo
Verska Hirujo