San Miguel foundation today and in the future will provide the best opportunities for poor women to sustain themselves and their families in rural communities.  After only a mere 2 years and three months, the foundation has achieved the enviable record of becoming a self sustaining entity.  The program effectively brings out the entrepreneurial spirit of its members, helping them in their efforts to be productive.  FSMA has an ambitiously designed growth strategy to bring these opportunities and more to impoverished communities of the Dominican Republic.  The program has already established three regional offices,  in San Cristobal, Peravia, Ocoa, Santo Domingo and Monte Plata Provinces, and the demand for its services has been enormous.  Within the first five years of operations the foundation plans to expand operations not only throughout the above mentioned provinces, but also in other adjacent provinces.  By the beginnings of the year 2010 the organization expects to be offering financial services for development of micro businesses to more than 20,000 families in the rural and peri-urban areas of the country.  In order to make these projections a reality that foundation needs to raise over $5 million.  The funds needed in order to establish the initial portfolio of the institution was provided by its founders.  For the next five years and until 2012, FSMA will be looking for funding from external sources for the balance of its needs.  The idea is to obtain what the organization has established under an intense business plan in reaching the 20,000  family members of the poorest sectors of the Dominican society. During this period more than 90% of the financing will be destined to financing the growth of the loan portfolio.  It is expected that the foundation's execution over the next few years will attract potential investors to obtain the necessary resources for expansion into new areas beyond the over 10,000 families already under the program’s auspices.  Meanwhile and for the time being, the organizations projections are purposely conservative, so as to maintain capital needs within obtainable reason.  With the mentioned level of funds FSMA can make a significant impact in what is probably one of the more problematic and critical development problem areas that the Dominican Republic faces at present.  By the end of June, 2007 the foundation became self sustaining, that is, capable of covering 100% of its operating costs, and is well positioned to obtain additional commercial funds for its long term growth .  If the institution can achieve these objectives as projected, it can become the national leader in the area of microfinance for the “poorest of the poor”.  The next few years are of vital importance, both for the development of FSMA as well as for its participating members.  For more information and opportunities of funding microfinance in the Dominican Republic please contact us.