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Fritzner
Fritzner is a Haitian entrepreneur who is dedicated to bringing support to the Haitian education system. As a result, he created a business called IZOFI Haiti in order to provide affordable school supplies such as books, notebooks, calendars, etc.to students and schools. The business has provided private training on entrepreneurship, leadership, marketing, and accounting to every college student living within the community. Because of lack of funds, the business is still not able to meet the high demand for school supplies. Izofi needs to increase its production. Consequently, the business has turned to a loan which will help expand its production, and to serve its current and future customers.

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This loan could be made to a small and growing business (SGB) or a cooperative.  Please note that due to the risky nature of lending to SGBs and cooperatives, a market segment that is generally not served by microfinance organizations, Zafèn loans carry a significantly higher level of repayment risk than most other Kiva loans. The program has a repayment target of 70%, well below that of Fonkoze’s other portfolios. Lenders who choose to fund Zafèn loans should be aware of this risk.

 

About Fonkoze - Zafèn:

Fonkoze is Haiti’s largest microfinance institution, offering a full range of financial and development services to Haiti’s rural poor. Zafèn is a program created by Fonkoze to provide soft loans, training and support for small and growing businesses in Haiti. Soft loans are loans that are below the market rate of interest.

Zafèn loans are now crowd funded on Kiva, which will reduce website maintenance costs for Fonkoze and allow more Zafèn loans to be funded faster. It will also allow the program to cover more of its costs and move towards self-sufficiency.

More details and information on the projects are available on www.zafen.org

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About Haiti

  • $1,600
    Average annual income
  • 0
    View loans »
    Haiti Loans Fundraising
  • $1,756,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD