Haiti’s Crowdfunding Platform Fonkoze-Zafèn Joins Forces with Kiva

A Zafèn entrepreneur hard at work. Photo courtesy Zafen.org

Zafèn, Haiti’s loan crowdfunding platform backed by the Fonkoze Foundation, has joined forces with Kiva to expand its crowdfunding reach and to distribute more loans to more Haitian entrepreneurs.

Zafèn was established in 2010, just months after a devastating earthquake hit Haiti, and provides low cost loans to small and growing businesses contributing to sustainable economic development in Haiti.

The platform was created as a way to bring together Haitian business owners, the Haitian Diaspora community and caring people everywhere interested in developing the Haitian economy. In its inaugural year, it raised $350,000 to support business and social projects.

With the new partnership, Kiva and Fonkoze will work together to ensure even broader reach for these business and social projects.

Fonkoze-Zafèn not only targets those who need the most help, but also those who will have the biggest impact in their communities by looking for the following factors:

  • Businesses that don’t qualify for traditional bank loans, so would not have access to capital without a Zafèn loan.
  • Small/medium Haitian enterprises that are looking to expand their businesses and create jobs.
  • Projects that will improve the communities, unlock human potential, and foster sustainable economic development.
So how will Kiva help Fonkoze-Zafèn  build on its success? Kiva is a globally recognized online lending platform with a huge network of lenders. Fonkoze-Zafèn’s partnership with Kiva will not only draw in more lenders, but it will also reduce Fonkoze Foundation’s costs of maintaining their own crowdfunding platform. The time and money the organization saves can be more effectively spent on the ground working with their extensive network of borrowers who are seeking loans.

Fonkoze Foundation’s mission is to help people pull themselves out of poverty and improve their local economy. Make a loan to a Fonkoze-Zafèn borrower today to help motivated people hit the ground running and build successful businesses.

Photos from www.fonkoze.org

About the author

Audra Wingard

Audra just graduated from UC Berkeley with a degree in Anthropology and Education. She was first introduced to microloans during a trip to Oaxaca, Mexico where she toured a group of small businesses local women had started using microloans. She was inspired by the excitement these women had about their businesses and the successful profits they were already gaining from them. Audra wants to work for Kiva and help motivated people overcome financial obstacles and achieve their dreams. During her time at UC Berkeley she volunteered in a number of schools and education programs in Oakland and San Francisco and loves to work with kids. She plans to go to graduate school for International Educational Development. and hopes to eventually work internationally to help increase access to education.