At YAH, we specifically aims to help women, recognizing their potential as key drivers of economic growth and development. It goes beyond providing just funding; it includes essential business education, financial literacy training, and mentorship to help borrowers succeed. The main objective is to expand small income, and potentially lift themselves and their families out of poverty. The microloans have improved the lives of the women.
We recognize Haitian women gain income and contribute more significantly to household expenses, their self-confidence and status within the family and community increase. Studies show that women microloan recipients are more likely to become the primary decision-makers regarding household finances, children’s education, and healthcare.
When women control household income, they tend to prioritize spending on the well-being of their families, particularly on children’s nutrition, health, and education. This leads to better overall health practices, higher school enrollment rates for children (especially girls), and improved living standards for the entire family.
In Haiti Women often face significant barriers to accessing traditional banking services due to a lack of collateral or credit history. Microloans bridge this gap, allowing them to start or expand small businesses, generate income, and accumulate assets. This financial independence reduces their reliance on male family members and helps them break the cycle of poverty.
Here are key reasons we’re seeking microloans for them:
- Women are empowered by having their own finances
- With their own finances, women can make decisions in the home
- Women lost their babies because they had no transportation to health facilities if their husband was away. Now, they can use their savings in emergencies.
- Microloans have increased women’s self-esteem. Although the husband is still the head of the household.