Microloans in Haiti:
Zanmi Fanm e Progré a Rankit

Loans are for a fixed amount (the equivalent of about $120 in the local currency, the Gourde), and are paid back over the course of a year without interest. The loans are made only to women, who tend to be a better risk than men. Women are also often the major providers in the households in Ranquitte.

The administrators will make two new loans each month for the first year, and then will begin administering the fund from a pool which allow them more latitude to make more loans each month. If the two work at peak capacity, they will be administering 84 loans during the month 36.

If nothing more is invested in the fund, operating at full capacity, the fund will continue operating for 10 years, until on-going administrative costs finally deplete the fund.

Thank you to all who made this project a possibility! Following are some photos from that historic day. But first, let us thank our sponsor:

(Roi*Mart loan repayments will feed into the microloan program fund for the first three years.)

• Mama (center) and Fedrina (right) explain to the loan recipients how the loans will work, and what forms need to be signed.

  

• The first two loan recipients (in white shirts) will both be developing market niches

  

• The applicants fill out their portions of the loan agreements:

• Mama looks over the loan agreement for problems or errors:

  

• Mama signs the loan agreement for Zanmi Fanm e Progré a Rankit (Fedrina also signs -- the administrators must agree on a loan):

  

• The ladies assembled after the loans have been signed to celebrate the historic occasion:

  

  A few weeks later, we find one of our loan recipients in the market selling her wares:

  

Special Thanks to:

• The First Presbyterian Church of Ft. Thomas, KY
• The First Presbyterian Church of Bowling Green, OH
• Steve and Kim Long
• Marilyn Long
• Daryl Knauer
• and many contributors to the "Peace Chest" for Ranquitte, Haiti