AGORA XXI: BLOG OF THE COMMUNITY OF SAINT PAUL

MICROLOANS IN SABANA YEGUA

Florinda Ramírez has a very small shop. Even though it’s not yet her dream business, she is getting income to help her big family. She sells the basic food for the typical daily meal in her small community: salt, rice, spices, tomato sauce...plus some chicken on a good day. She also sells a few convenience items, such as candy and bagged snacks, that are special treats to enjoy from time to time.

Florinda is part of a group of 25 women who are receiving microloans of around 250 USD, which are expected to be paid back in less than a year. They all have small businesses like beauty shops and shops selling food and clothing. Importantly, through these small loans, these enterprising women have entered into the credit system with the bank, the beginning of an important business relationship. The women operate collaboratively within a support group of five per village community. They have been able to acquire more products to expand and improve their businesses and are making their payments in a punctual manner. Additionally the 25 women have participated in a course about starting small businesses, facilitated by INFOTEP (a Government organization), whereby they have deepened their knowledge necessary to manage a small business. For example, all of these microloans were initiated by the preparation of modest business plans.

This program is carried out within the government sponsored Integral Development Program in 5 Rural Communities of the Jovillos Municipal District and co-financed by the charitable non-government organizations, Manos Unidas and Nuevos Caminos, from Spain. Additional funding and support is provided by FUNDASEP, a charity linked to the Diocese of San Juan de la Maguana, and through services of the local parish, La Sagrada Familia, which enables people in their communities get ahead through programs of this nature.

These 25 women are very satisfied with all that they have learned and are very certain that it will help them greatly with their family finances. In the photograph you can see Florinda Ramírez. As she has finished repayment of her first microloan, she is motivated to get a second microloan to expand her business. For that, she is already working on a revised business plan.