In 2020, the Raising Haiti Foundation began funding the provision of small loans ($25-$50) to 50 women clients per community. By July 2024, the program had grown to a total of 426 beneficiaries who received loans in the $76 to $1,132 range. By the end of 2024, the program will expand to enroll 500 clients, with an increasing loan range.
Most of the women use their loans to become entrepreneurs, or to expand their current businesses, selling goods in local markets. Some use them to purchase livestock or crop seeds, improving their farming outputs. Besides loans, the women receive training on topics such as business management, customer satisfaction, how to avoid supply shortages, and the role of local leaders in community development.
Does that mean that Microsoft pay the interest and underwrite defaults? Or are they peddling debt? I hope it’s the former.
At the amounts quoted it would be reasonable to just give them the money. It’s also very effective.