Compaq and Esperanza Power
Technology Labs to Provide Skills, Restore Self-Worth, Finance
Loans in Dominican Republic
SEATTLE, March 12 /PRNewswire-FirstCall/ -- Technology donated
by Compaq Computer Corporation
(NYSE: CPQ) will be used to expand a program for disbursing
low-interest business loans to disadvantaged women seeking a
better way of life in the Dominican Republic.
Compaq's $250,000 contribution to Esperanza International will
assist in improving technology skills, growing small businesses
and simplifying the loan process for women who have lost hope but
are regaining their self-worth through entrepreneurial action.
Compaq desktops, notebooks, iPAQ Pocket PCs and industry standard
ProLiant servers are being assembled at two new computer labs in
the rural towns of San Pedro de Macoris and Conseulo.
Since 1996, the non-profit Seattle organization Esperanza has
distributed more than 12,000 low-interest loans and has created
about 10,000 jobs, mostly to unemployed, single parent families
and women who fall below the poverty line. Now, the organization
wants to introduce technology and expand those women's computer
skills.
"We believe that giving these women access to information
technology will make a big difference in boosting their dignity,
and make it easier for them to build better lives for themselves
and their families," said David Valle, Esperanza founder and
executive director.
"Finding a technology partner like Compaq that has a global
reach and understands small business will also give these women
the power to track the finances of their growing businesses and
lower the cost of doing business, because there is an increasing
need and ability to link globally to suppliers, buyers and
customers," Valle said.
Esperanza will also use the technology in the computer labs for
its own administration, fundraising and accounting and to track
the more than $3 million in micro loans. But some of the
technology -- such as Compaq iPAQ Pocket PCs -- will also be used
in the field. Loan officers who travel to the villages on
motorcycles over bumpy, dirt roads used to have to fill out
documents by hand. But now, they will begin uploading that
information from loan recipients on the iPAQ handheld devices.
The average loan is $150, and the women pay commercial bank
rate interest and fees. The loans have given women the opportunity
to start local businesses and provide income for their families,
while also boosting the economy of their communities.
"I now have a small but thriving grocery," said Rosa Bil de
Borsa, who used to work 12 hours a day selling trinkets in the
street, often not making enough to feed her family or pay for the
bus fare home.
Women have used the loans to finance start-up businesses, like
selling sweet cakes, coffee, blended fruit drinks, fried bananas
or chicharonis, deep- fried pork rinds. Where unemployment used to
be as high as 80 percent, along these rugged roads now stand a
village diner, beauty parlor, wedding gown rental shop and a
framing business.
It is Esperanza's hope that the Compaq donation of technology
will increase job opportunities by providing these women with
basic computer skills to either expand their existing businesses
or start new ones, such as office management, word processing
businesses, even internet cafes. The computers are loaded with
QuickBooks accounting software from Intuit and Windows 2000
software from Microsoft.
"Esperanza does a phenomenal job of providing an opportunity
for these women and families to escape poverty," said Dave Fusco,
regional vice president for Compaq's West Region. "Compaq wanted
to help another step of the way by providing technological
knowledge and management tools to allow this program to grow. Our
hope is that through technology training at the labs, these women
will acquire the necessary skills to not only run their business
but can become candidates for hire by regional businesses."
The idea for Esperanza -- hope in Spanish -- started as a pipe
dream in 1985, when Valle, a former baseball catcher for the
Seattle Mariners was in the Dominican Republic with his wife
Vicky, while playing winter league baseball. One day, after a ball
game, children started to swarm around him for what he thought was
his autograph. What they really wanted was food. Struck by the
devastating poverty around them, Valle promised he would someday
return to the country with the mission to free these children and
their families from high unemployment, through a program that
generated income, education and health.
Over the years, Esperanza has relied on corporate donations
from companies such as Compaq to make the program successful and
to grow. The organization recently opened a health clinic, where
for $1.25 per month, women who hold loans with Esperanza can get
preventative healthcare for themselves and their families.
Esperanza International Background
The mission of Esperanza International is to free children and
their families from poverty through initiative that generate
income, education and health, restoring self-worth and dignity to
those who have lost hope. The mission is being accomplished by
focusing programs on three sectors: Micro- enterprise development,
Training and Education, and partnering with other community
institutions for Community Development initiatives.
Compaq Background
Founded in 1982, Compaq Computer Corporation is a leading
global provider of information technology products, services and
solutions for enterprise customers. Compaq designs, develops,
manufactures and markets information technology equipment,
software, services and solutions, including industry- leading
enterprise storage and computing solutions, fault-tolerant
business- critical solutions, communication products, personal
desktop and notebook computers, and personal entertainment and
Internet access devices that are sold in more than 200 countries
directly and through a network of authorized Compaq marketing
partners. Information on Compaq and its products and services is
available at
http://www.compaq.com/ .
Source: Compaq Computer Corporation
Contact: Dayna Fried of Compaq Computer Corporation,
+1-949-240-2119, or
dayna.fried@compaq.com ; or Nicole Gabelein of Esperanza
International,
+1-425-821-8996, or
kitk@esperanza.org
Website:
http://www.compaq.com/
