Microloans for Dominican Republic ☺

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36 donors
0% complete

$1,861 raised of $1K

Microloans for Dominican Republic ☺

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Please join me in putting together $1000 for microloans in the Dominican Republic.

I have been personally lending through Kiva.org since 2015, and it has been incredibly satisfying to see how much a little bit of money can do for local entrepreneurs.

These $1000 we raise, and everything above it, will be continuously lent to entrepreneurs in the country in perpetuity, as long the loans are getting repaid. So your donation has a powerful, multi-fold impact!


How can you help?

Donate...and have your name be part of the public lenders page   (if you’d like) as a contributor to this effort! You will be able to see who we are lending to in that page as well.

Of course sharing this campaign is also awesome :)


Why donate? 


☞  A very significant portion of the world's poor does not have access to good credit. This is where microcredit comes in. The concept was pioneered by Mohammad Yunus in Bangladesh in 1976, where he facilitated small loans for women who were too poor to qualify for traditional bank loans. His efforts grew into a lending institution designed exclusively for the underserved, the Grameen bank. They were awarded the Nobel Peace Prize in 2006.

☞  30.5% of the Dominican Republic lives below the poverty line. Local organizations are providing small loans to men and women to help them grow their businesses and get them out of poverty. These businesses can be small corner shops, stalls at the market, or selling agricultural supplies, to name a few. The are also higher education loans for individuals going to university.  


Who will the loans go to?


☞ Take a look at some of the individuals and groups seeking funding  in the Dominican Republic. We are doing this through Kiva.org, a well established, 4-star rated (by Charity Navigator) non-for-profit based in San Francisco, CA.

☞ Kiva.org partners with local organizations in each country they work in. These local organizations work on the ground with the communities they serve to vet borrowers and administer loans. Some organizations also provide additional support with access to healthcare services and vocational training.

Organizer

Alfredo Nicolas Achecar Penzo
Organizer
New York, NY
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