Programs: FINCA
Announced:
September 8, 2011
Category:
Supporting Micro Finance Institutions & Micro Entrepreneurs
Fund Amount: $358,000 Grant
Above, female entrepreneurs receive financing
to expand or start their own businesses.
See more in the FINCA Photo Gallery.
FINCA specializes in village banking, which brings small groups of community members together as a financial support group. These groups, predominantly made up of women, give women newfound borrowing ability. With financing through FINCA Haiti, these borrowers are able to start or expand small businesses with loans that average just $300.
Our grant will help strengthen FINCA Haiti's loan portfolio, greatly expand its outreach, and secure the program's long-term sustainability in the country.
Why We Invested in FINCA
Clinton Bush Haiti Fund's grant to FINCA International reflects the mission to support the restart and expansion of microenterprises, of which women are key contributors, by strengthening a Haitian microfinance institution that lends primarily to women entrepreneurs.
Transforming Lives and Livelihoods
The Clinton Bush Haiti Fund grant to FINCA International for its affiliate FINCA Haiti to strengthen its ability to make loans will:
- Help Haitian entrepreneurs, predominantly women, access the finance they need to develop their small and growing businesses, allowing them to support their families and communities;
- Support borrowers who are otherwise too poor to secure credit from other lenders;
- Employ and train Haitians in loan management and loan recovery;
- Secure the long-term sustainability of an established microfinance institution in Haiti.
About FINCA
FINCA International is a 501(c)(3) that began in 1985, and whose mission is to provide financial services to the world’s lowest-income entrepreneurs so they can create jobs, build assets, and improve their standard of living. It is active in 21 countries across the globe and currently serves more than 850,000 borrowers (70% of whom are women). FINCA Haiti, an affiliate of FINCA International, was established in 1989. It serves the working poor in Haiti, primarily those who operate in the commerce, service, and agricultural sectors. Learn about FINCA's work at www.finca.org.
