He explained that “Productive Housing” will have rates of 7% and 8%, and will also include technical assistance and advice for entities that have microcredit programs.
SANTO DOMINGO- "Productive Housing" is the new second-tier credit product, announced yesterday by the Fundación Reservas del País to finance home improvements for clients of the lenders who have businesses in their homes.
Its proponents explained that it was motivated by the findings of a study conducted by the institution, in collaboration with the non-governmental organization Habitat for Humanity, said María Isabel Pérez, president of the Fundación Reservas del País.
He explained that the study determined that there are about 290,000 people in the country who run their businesses from their homes and described as "a story of courage" the story of each micro-entrepreneur who decides to start a business from home to provide for their family.
She also highlighted that 53% of micro and small businesses that access financing through entities allied to Reservas del País are led by women, mainly heads of household, and of these, 35% have their business in their home, "combining their role as housewife and micro-entrepreneur.".
“With this collaborative effort, today we see the birth of a new product that responds to the basic needs of our micro-entrepreneurs: to live in a decent home that generates value,” he stated.
He explained that “Productive Housing” will have rates of 7% and 8%, and will also include technical assistance and advice for entities that have microcredit programs.
He emphasized that this “will contribute to the reactivation of the economy by strengthening MSMEs, generating more jobs and substantially improving the quality of life of Dominicans who access it.”.
The launch event was attended by representatives of government institutions, international cooperation agencies, allied borrowers, and key players within the solidarity finance sector.
Its reason for being
The Reservas del País Foundation is a non-profit entity that offers second-tier financing and strengthening to solidarity microfinance institutions, such as cooperatives, social economy groups and non-profit associations with microcredit programs.
