Small loans for a large impact

Since 2012 GSF has operated a microcredit bank system on Ile a Vache, based on Grameen Bank principals of low-interest loans to microbusiness owners and startups, organized into groups of women who give each other mutual aid and support in repaying loans and learning how to conduct a small business. Later after 1-2 years of successful repayments and completing courses in money-handling, they become eligible for larger loans. Each group pays interest to allow for accounting and banking fees, and one secretary serves all the groups, on a small salary.

We were very fortunate to find the services of Mme Josette, who previously worked for a Methodist microcredit, since shut down, who has very capably managed ours, called MICEPMIV, since 2014. She is assisted by a committee, notably with our agronomist Anousse Paul since 2018, who has extensive training in modernizing and improving these systems, and who brings in trainers whenever possible.

In 2017 we expanded from 4 groups of women (approx. 180 loans) to a group of fishermen, and subsequently another, plus more recently several other groups, two more villages, the teachers from our school, and several larger loans per year enabling borrowers to buy motor-bikes, machinery, repair their boats, pay for serious medical necessities, and more.

MICEPMIV is and for some time, has been, the only remaining microcredit in the area, and with more than 600 clients and a repayment rate of 97%, plus the lowest interest rate in Haiti as far as we know - it is a huge avenue of support for the island, essential in the complete absence of normal banking services, or credit facilities. The system we started with $15 000 US now contains a revolving fund of over $75 000 and all profits return to the system to allow extra members to join each group from time to time. We are extremely lucky to have an amount provided year by year by our donors to augment the funding and continually expand, slowly but surely, to the great benefit of the whole community. Just a few examples of our many beneficiaries are shown on this page.