Micro-Finance Loans in Haiti
Not long after his first trip to Haiti in the wake of the earthquake in January, 2010, Matt Loeffler went and lived in Haiti for three months and worked with an organization called Adventures In Missions. While there he launched a microfinance program in which he works alongside trusted Haitian Pastors to identify credible candidates for small business loans. The goal of the program is to give Haitians an opportunity to provide for themselves through their own hard work and skill while moving them away from dependence on foreign aid. The other objective is to unify and empower the Christian church in Haiti by fostering a community of teamwork and stewardships among business owners and their pastors. Matt is finishing the process of establishing a foundation in Haiti and has been able to employ a few Haitians to handle the day to day operation. The program is still very small but has had tremendous success. To date, 54 loans have been given out with 100% repayment rate.
A few great examples of the program’s success can be seen in the pictures above. On the left is Augustin who is a bakery owner. After the earthquake all he had left was a beat up oven which he used to start baking and selling bread. He was able to grow that business into a small bakery with three ovens and four employees and then later starting a second bakery. With the microloan he was able to open a third bakery and hire four more employees. He has a dream of one day owning 10 bakeries. The picture on the right is a group of borrower’s from Pastor Eduord’s church. The group started with 5 individuals, each who sold goods on the street. They each had niche markets selling shoes, clothes, school supplies, grocery items, or batteries and small electronics like radios and clocks. The loans gave them the opportunity to purchase more inventory of better quality to turn around and sell making a profit. The borrowers are thankful for the loans and eager to receive additional, larger loans to continue growing their businesses. They are now on their third round of loans and we’ve been able to loan to three additional business owners from their church as well. The group is cohesive, uplifting, and accountable to each other.
The long-term goal of the program is to raise enough funds to be able to work with larger businesses which have the capacity to grow and expand and hire additional employees if given the opportunity and necessary capital.
Pray: Please pray for the completion of the process of setting up the Foundation in Haiti as there have been several setbacks and delays. Also, pray that God provides the money necessary to make the program effective. Finally, pray for the individual borrowers’ ability to steward the money well and make the right decisions and actions to grow their businesses effectively and provide for their families.
Give: If you would like to make a financial donation to this microfinance program please click below. A single business owner’s loan ranges from $300-500. You can donate this full amount or any amount you feel called.