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loans - Haiti Observer Blog

loans, Haiti Observer Blog. Read the following articles about loans


 

New opportunity for Haitians to Access funding

Something you might want to know about, Tips

Here is something that might be of value to people interested in accessing funding for a Haiti project. The businesses can have access to loans from various financial institutions in Haiti, thanks to a USD 26-million housing finance under the name "REBATI Fund".

My job is to bring these information to you. However, if you are interested, you need to make the proper connections to learn more about it.

According to information received, three major organizations got together to offer this opportunity: The Overseas Private Investment Corporation, the U.S. Agency for International Development and the Clinton Bush Haiti Fund

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Haiti's Informal Sector Needs More Micro-Lending Programs

Economy And Finance, Money And Currency

President Martelly met with 54 business associations to seek solutions to informal sector challenges. The central need for small and mid-size enterprises (SMEs) is for credit at favorable interest rates.
Also present were ministers of Women's Affairs, Economy and Finance, and Crop Production, along with custom officials and Central Bank's CEO.

The Haiti informal sector is a non-aggregated group, and they account for 80% of the workforce. Underdeveloped SMEs have been ignored until the 2010 earthquake forced the issue of growing the economy.

The government of Haiti (GOH) has developed an agenda for SMEs, some of which includes:

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US Program Failed To Award Loans to Intended Targets in Haiti

U.S. Agency for International Department (USAID) started a program that aimed towards boosting up the economy of Haiti through targeted loans to Haitian business units. It has been found in an audit that program failed as the intended targets did not receive the loans, workers were not trained properly and there was no systematic record maintenance. The Office of Inspector General of USAID released the audit report towards the end of February. The aim of this audit was to find out whether areas like waste management, handicrafts, tourism, construction and agriculture were benefited through the promotion of lending practices.

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Microfinance in Haiti

Economy And Finance, Money And Currency

Microfinance has a long history in Haiti. Even in the 1990's the method was given considerable push from Sogebank's Chief Economist, Pierre-Marie Boisson, who was able to convince the bank's board of directors of its financial and social promise, eventually leading to Sogesol, their affiliate dedicated to microfinance.

While struggling to operate under the high administrative costs of running a microfinance institution (MFI), Sogesol has to meander the microfinance world, all while operating under Sogebank's bank regulations. There are no formal regulations governing microfinance and this leaves bank-run MFI's on shaky ground; if their umbrella organization finds the high-risk nature of giving loans without collateral, a staple of microfinance, unfeasible, their affiliates might face a shut-down. They must also deal with the very real competition from institutions that are not bank run, and, in some cases, are more established in the rural areas, where microfinance finds its biggest audience.

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The History of Bank of the Republic of Haiti (Banque de la Republique d'Haiti)

The Bank of the Republic of Haiti (known in French as Banque de la République d'Haiti) (BRH) serves as the main bank of Haiti. As a participant in the Alliance for Financial Inclusion, it promotes its own proprietary financial inclusion initiative.

Soon after Haiti drove the French off the island, it reclaimed its status as a sovereign state. First mention of BRH occurred in a brief exchange of letters in September 1825. A German corporation, Hermann Hendrick and Co. (HHC), wanted to start a bank in newly-freed Haiti. They hired George Clark to draft a proposal, which was reviewed by Nicholas Kane, foreign liaison between HHC and Balthazar Inginac, Haiti Secretary of State. The proposal was rejected and Haiti's first bank would wait decades to become established.

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Privately-Held Banque de l'Union Haitienne a Haiti Success Story

Banque de l'Union Haitienne (BUH), Haiti's first privately-held bank, with a full range of banking services, was established in 1973. Clifford Brandt, a Haitian corporate businessperson, partnered with Banco Popular Dominicano of the Dominican Republic (BPDDR) to create the bank. He and BPDDR's president, Alejandro Grullon, met to begin the process for launching Haiti's first private bank in 1973. With Grullon's approval, a pre-planning committee was set up to incorporate BPDDR's rules and regulations in order to be in conformance with its holding company.

In a meeting on June 2, 1973, 420 shareholders voted for the creation of BUH. Also at this gathering, it planned its regulatory structure, and selected a nine-member Board of Directors and a Controller.

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Loan to upgrade Cap Lamandou Waterview Hotel in Jacmel

The Cap Lamandou Waterview Hotel is in need of upgrading. The Clinton Bush Haiti Fund is a nonprofit making organization that was formed after the 2010 earthquake. It was at a time when President Obama requested former presidents Clinton and Bush to organize fundraising for Haiti. It was formed to collect money from well wishers, and the money collected was to be used to reconstruct Haiti by increasing job opportunities and causing economic improvement. With these two opportunities being created Haiti is believed to improve gradually.

Clinton Bush Haiti fund is meeting its role by giving $2.59 million loans to improve four businesses and workforce development programs. The four businesses were Regis College, Cap Lamandou Waterview Hotel, CLYF Quincallerie and SOFIHDES. These will ensure that Haiti will gain stability in its economy.

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The real cost to the family who becomes victim of crime in Haiti

Haiti Police Police Nationale D'Haiti PND'H

According to a recent report by the University of Michigan or by just watching the level of insecurity in Haiti lately, violent crime continues to rise in Haiti.

The emotional factor in a crime is sometime unbearable. But this is usually not the only thing the family who is the victim of a crime in Haiti has to deal with.

Has anyone thought about the sudden cost that the family has to deal with, such as funeral and burial. In some cases, families helping the children cope with the crime.

According to the report from University of Michigan:

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Loan to upgrade Cap Lamandou Waterview Hotel in Jacmel

Clinton Bush Haiti Fund is a nonprofit making organization that was formed after the 2010 earthquake. It was at a time when President Obama requested former presidents Clinton and Bush to organize fundraising for Haiti. It was formed to collect money from well wishers, and the money collected was to be used to reconstruct Haiti by increasing job opportunities and causing economic improvement. With these two opportunities being created Haiti is believed to improve gradually.

Clinton Bush Haiti fund is meeting its role by giving $2.59 million loans to improve four businesses and workforce development programs. The four businesses were Regis College, Cap Lamandou Waterview Hotel, CLYF Quincallerie and SOFIHDES. These will ensure that Haiti will gain stability in its economy.

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Michel Martelly in Financial problem as he lost three homes to foreclosure

Michel Martelly AKA Sweet Micky

Our presidential candidate Michel Martelly can feel our pain because he knows what it feels like not to be able to pay his bills. The "Haitian Joudalist" just learned that Michel Martelly, aka Sweet Micky, lost three properties in South Florida due to foreclosure.

The Miami Herald reported that our potential president, Michel Martelly, lost three houses recently in South Florida. In addition, there is a loan for over $1 million that he stopped payment on.

One of the foreclosed homes was a 5-bedroom house located in Royal Palm Beach. According to Miami Herald: "The Haitian presidential candidate Michel Martelly bought in 2005 a $900,000 Palm Beach County home and lost it in foreclosure. "

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