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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 village savings and loan associations, as well as small and growing businesses in Haiti. Soft loans are loans that are offered at an interest rate below the market rate.
More details and information on the projects are available on zafen.org
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Success!! The loan was 100% repaid