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Overview
| Donor: | Esperanza International |
| Application procedure: | Letter of Inquiry |
| Donor base: | Dominican Republic, United States |
| Reference number: | - |
| Eligible applicants: | Individual, Social Business |
| Deadline: | ongoing |
Financial details
| Grant size: | Small - up to $100,000 |
| Minimum grant size: | - |
| Total available budget: | - |
| Funding type: | Loans, Other |
| Maximum grant size: | - |
| Funding ratio: | up to 100% |
Sectors
- Children & Youth
- Economic Development
- Education
- Health
- Other
- Water & Sanitation
- Women & Gender
Project Locations
America
Dominican Republic
Description
1) Objective
Esperanza’s mission is to free families from poverty and share the hope of Christ. To this end, they offer holistic, Christ-centered financial and complimentary services that equip families to flourish. More specifically, they support micro-finance and income generating projects for women in need in the Dominican Republic. To this end, they provide loans to those living below the national poverty line. Their five core loan products are designed to meet the most basic needs of individuals, families and communities as they search for holistic ways to alleviate the different types of poverty.
Esperanza also facilitates savings and insurance services to ensure that their associates will be better prepared for emergencies and have improved security of their capital for future investments. The poorest of the poor typically earn between $2-4/day.
2) Eligibility
Communities and entrepreneurs are eligible to apply.
3) Location
Funding support is only provided to individual entrepreneurs and associations based in the Dominican Republic.
4) Budget
They offer individual and group loans.
5) Application
Their team intentionally travels to communities seeking financial services, usually through the introduction of a local pastor. Upon entering a community, Esperanza conducts an information session to educate entrepreneurs about our microfinance and holistic health and education services. Then a Loan Officer meets one-on-one with entrepreneurs to discuss their business plan and eligibility for obtaining a loan.