Due to the success of our Give to the Max Day fundraising and end of year contributions, we were able to grant 30 new loans in January – 15 in Ranquite and 15 in Limbe. The pictured group are women from Ranquite.
We awarded our first loans in March of 2012 and the goal at that time was to fundraise enough to eventually award 100 loans. We are currently at 160 loans and have no plans to stop! In fact, the Board of Helping Haiti Work has been researching ideas to advance the program to more women as well as honor the requests of women who have already received grants that now want larger loans. The first group of 10 women that were awarded loans in March of 2012 will soon be due for their third loan cycle. All of them have paid back 100% for each loan cycle. They will receive an additional $100 (for a total loan of $300) this time with the understanding that they will each contribute $10-$15 of their new loan to self fund a new participant in the program. They will be responsible for collecting the money each month from this woman and benefit from the 2% interest rate that is added to the loan.
Our fundraising in 2015 will focus on sustaining the original loan program and also raising additional funds for the 27 women starting their third loan cycle.