“Fonkoze helps people to progress. I started off low [in Solidarity lending], but now I’m saving more and more money.”
— Business Development Client Augusta Charpentier
At the top of Fonkoze’s Staircase Out of Poverty is our Business Development program. With 12-month loans beginning at $1,300, Business Development clients use their increased loan capital and longer loan cycles to create thriving businesses.
The Business Development program provides opportunities for Solidarity clients to move up the Staircase and expand their businesses. After starting with a $75 Solidarity loan, Augusta Charpentier now borrows sums as large as $1,750 to run a neighborhood food stand outside of Jakmèl. She is using her profits to expand the house that she and her husband built.
Business Development also provides established business owners who are not already Fonkoze clients—such as agricultural cooperatives—with a way to find funding to continue to grow their businesses. Fonkoze’s Business Development loans help entrepreneurs generate essential economic activity and create jobs in rural areas throughout Haiti.