Banks of Hope

Small business loans for women and their families can break the cycle of poverty, by generating income, education, health and self worth. The Players Trust has committed $200,000 to help establish the Banks of Hope microfinance service organization in two Dominican Republic communities.

Economic development within individual families in the Dominican Republic results in better economic conditions for entire communities. Women in the Dominican Republic do 67 percent of the work and own 58 percent of the businesses. They utilize their resources to take care of their children with better food, safer housing and increased schooling. However, these same women lack access to credit as well as education and support in developing and running a business.

Esperanza International has become one of the leading microfinance service organizations in the Dominican Republic and the largest lender to the poorest of the poor through its Banks of Hope program.

Because the loans are repaid with interest, the Trust's initial $200,000 grant will provide ongoing funding for the program for years to come. To date, with the assistance of the Players Trust, Esperanza has begun to combat poverty with:

A grateful family helped by Banks of Hope. (MLBPA)

• More than 4,763 loans granted;
• More than 21,295 lives directly affected;
• More than $1,189,170 in loans disbursed;
• Average loans of $267, and
• A repayment rate of 100 percent.

A donation to the Players Trust can support Esperanza's efforts to facilitate real and sustainable change in the lives of women and families and have a lasting impact in their communities, as funds from this program are reinvested year after year.