95% of our associates are women, and a large portion of them are mothers too, so we organize a celebration around this important festivity every year to celebrate the role that women and mothers play in our society. In the Dominican culture, women are the cornerstone of each family: they are the foundation of the whole family structure.
This post comes in the form of a letter from one of our associates. We hope you will enjoy the testimony of one of the women Microfinance (MF) serves.
Small businesses like this are run on a cash basis and stock is built and bought daily, which is a burden for the profitability of the business.
Recently we funded Margo with a small loan so she could buy wholesale, build stock in advance, benefit from lower prices and reduce transportation costs. We expect this strategy to have a positive impact in the long-term strength of the business.
Running against the current is in the DNA of Microfinance (MF): while commercial banks have fancy buildings, we only have a laptop and point-of-sale printer; in the finance industry, customers go to the Banks, at MF we go to our associate’s rural communities; commercial banks typically loan to men, while in MF 98% of our associates are women;