Our first MicroLoan was started in July 2013. This was the "official" start of Mission Trakaye.
There are lots of different ideas about how a MicroLoan works and looks. Here's how we do it at MTI.
We believe in dignity, not charity! What does this look like? Teaching people how to provide for themselves!
YOUR DONATION starts a chain reaction. Each micro-loan is more than just a number, it's a life-changer.
PRAYERFUL CONSIDERATION goes into each loan.
DISTRIBUTION $50 = $400 Haitian. We have a meeting with the micro-loan recipient and pray about what business would be the best match for them.
PURCHASE & SELL the new business owner is driven to town to purchase goods in bulk. They then set up shop in town, near their home, or in the local market
PAYBACK each day the business owner holds back $2 Haitian which is collected every week.
SÒL GROUP this is where it gets exciting...and complicated. After $200 Haitian has been collected, two things happen:
1. This money is put with another repaid micro-loan to start a new micro-loan and the cycle begins again.
2. The business owner is also put into a sòl group which is a business partnership with other entrepreneurs. This is an accountability, prayer partner, and money-saving group. The business owners invest in each other's company. Each sòl group member invests a portion of their profits once a week into a "pot" with one owner receiving that "pot" each week to help grow their business.
But wait, there's more!!ach month, all of the business owners (along with friends who are interested in receiving micro-loans) meet for prayer, Bible study, and small business training. At these meetings, they are taught money management, given tips on how to grow their business, and plan trips to buy more product in the Dominican Republic. They also share a meal, prayer requests and praises,
and are sent home with a bag full donations from the US: food, clothing, more product to sell ~ whatever we have that will fit in the bags.
ALL 100+ MicroLoans THAT WERE STARTED IN CAP HAITIEN HAVE BEEN REPAID!! Our staff is currently prayerfully considering recipients for MicroLoans in St. Suzanne. Your prayers as they make these very difficult decisions are greatly appreciated.