Economic Development

Microfinance

Many women aspire to have their own business yet lack the necessary funds. Micro-loan programs are an effective way of providing financial literacy and support in developing communities around the world. In May 2008, the first Saint Rock Haiti Foundation microloans were awarded. Many women throughout the community applied for $60 loans to start retail businesses, of which 20 were selected. With a 97% re-payment rate, the program teaches accounting skills to loan recipients as they begin building their small businesses. These small businesses provide the income which allows parents to send their children to school, purchase food and medicine, and grow their local economy.