January 12, 2015

FINCA Haiti: Five Years After the Quake

FINCA Haiti: Five Years After the Quake

The story of Haiti is one of hope and perseverance in the face of unimaginable adversity. After being hit with one of the most devastating disasters ever that compounded the worst poverty in the Western Hemisphere, the people there never lost faith.

Our clients and staff have made a remarkable turnaround in the aftermath of the earthquake, especially in the last two years. Our success since then is owed to the resilience, cooperation, collaboration, focus and commitment of our amazing local team, and the faithfulness of FINCA’s supporters!

The number of FINCA clients have increased nine-fold in the last two years,

from 2,000 to over 18,000 active clients, 86% of which women

We have opened

four new branches since 2013

Introduced new loan products that include

agriculture and small enterprise loans

And launched

cash and mobile banking services

making it easier for our clients to conduct safer, less costly transactions.

Haiti doesn’t have many natural resources, but its people are rich in resourcefulness. FINCA loans help innovative clients like Madame Julia Pierre grow her business:

FINCA Haiti client Julia Pierre

FINCA Haiti client Julia Pierre

I am a 58-year-old woman. I live in Croix-des-Bouquets, a little city in Cul-de-Sac Plain. When I grew up, my mother supported us by retailing groceries. My father died when I was a baby. I started selling coffee when I was 12 years old. I am a mother of two young men. A year ago, I started selling peas, fruit and vegetables. I purchase from farmers and then sell at home. I needed money to expand my little business. A friend told me about FINCA and invited me to a Village Bank named Fanm Vayan (Valiant Women). I accepted, and took part in a meeting. I appreciated the solidarity of the women and decided to become a member. After several meetings where the loan officer explained loan management to me, I received my first loan of 6,000 gourdes ($137). This loan helped me buy more peas and vegetables. I repaid on time, and I am now managing a loan of 9,000 gourdes ($207).

FINCA loans are really important for me because they don’t ask me for collateral, and I repay on a monthly basis, which is better for me and helps me put more money in my business a little longer. My business is more profitable now, and I am glad that FINCA is my partner. I am already thinking what other produce I can add to my business with my next loan.