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Proposal to give mini loans at low interest rates to single mothers

The Development Bank (Banca Solidaria), in cooperation with the Ministry of Economic Affairs made a proposal to make mini loans at low interest rates available to single mothers. With a mini credit, the single mothers can startup a small business and thus cover their own cost of living and that of their children. They can startup a small business like a small supermarket, hairdresser, sewing room, nursery, beauty parlor etc. The Director of Development Maira Jimenez said that this is a new form of funding in the Dominican Republic. And thanks to President Danilo Medina now poor people can borrow money at low interest.

The intention is that several persons from the vicinity of the borrower have to guarantee orderly repayment. The director spoke these words at the opening of a second office in the city of Santiago.


Source: Sosua News

Category: DR News |

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Last updated October 22, 2016 at 2:00 PM
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