Addressing only Supply, not Demand
Most Microfinance Institutions lend in rural and impoverished areas where the recipients of loans do not have the disposable income to start a business. However, most of the surrounding community does not have a substantial amount of disposable income to support a new business either. For example, starting a juice stand in an area where locals do not have a lot of money to buy juice will be a struggle, or at the least will take business away from the juice stand down the street. Onwards develops tourism based businesses and furthermore supports those communities with your tourism dollars, developing a supply AND a demand, providing an initial and ongoing customer base, and stimulating the economy as a whole.
Affordability/High Interest Rates
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Similar to economies worldwide, over-indebtedness has crept its way into the microfinance sector as well. Onwards solves over indebtedness problems by working with its’ clients to develop, plan, and generate revenue for their business.
Onwards has begun developing a network of communities and individuals within the Dominican Republic looking to start or expand a tourism based business. tourism based is used to classify anything that could be supported/benefit from sustainable, community-based tourism. Whether the recipient is a opening a small restaurant, converting a home into a bed and breakfast, or developing a guide company to local waterfalls and other attractions, these tourism based businesses can be a way out of poverty for many Dominican families.