Posted on Jan 08, 2019
 
Micro loans in Haiti are an investment in people
 
Imagine if someone offered to lend you $100 to start a business. Maybe even $500. "That's not every much," you'd reply. And you'd be correct, at least by U.S. standards.
 
But offer those kinds of loans -- along with financial literacy programs -- in an impoverished nation, and you can make a big difference. Literally change lives and improve families.
 
That was the message during our meeting on Jan. 8. Fellow Rotarian Dorothy Krupa shared her passion and knowledge of a unique program available to women in Haiti.
 
Krupa, co-founder of local non-profit WE BUILD, said those small loans (known as micro loans) allow women to buy an assortment of goods, including vegetables, cooking oil, charcoal, shoes and used clothing. They then sell these goods in the local marketplace. These female entrepreneurs earn hard cash, and in the process build better lives for themselves and their families.
 
Why lend only to women? Primarily, Krupa says, because women in Haiti generally don't have access to traditional banking options. And those that do face extremely high interest rates. Further, research shows that when women gain access to financial resources, they do so to benefit the family. Basic needs for the children, including breakfasts and schooling, are now possible with the money earned. 
 
The loans are "an investment that keeps on giving," Krupa says. Food aid is helpful, but only in the short term. Loans have a lasting effect. The money is lent out, paid back, then lent again. Sometimes to the same women.
 
As part of the loan process, the women take courses in budgeting, saving, and other important matters. Some even draft simple business plans.
 
Applying for a Rotary Grant
Krupa and her team hope to raise $45,000 to enhance the micro loan program. That amount would cover about 150 loans, she says, and last six to nine months.
 
Her club, Rotary Club of Amigos de Milwaukee, is spearheading a fundraising effort. If they can raise $10,000 in six months, Rotary International and this district (6270) will provide $35,000 in matching grants. So far they have raised about $2,000 (her club chipped in $1,000).
 
To learn more, and to donate, visit www.webuildhaiti.org.