Programs: SOFIHDES
Announced:
January 7, 2011 & June 27, 2012
Category:
Providing Small & Growing Businesses with Access to Financing & Business Services
Fund Amount: $2,000,000 PRI & $250,000 Grant
In this video, learn about two SOFIHDES clients receiving loans:
DAUPHIN, an outdoor advertising company, and
HENROPO, a construction firm.
See more in the SOFIHDES photo gallery.
The Clinton Bush Haiti Fund has made program related investments (PRIs) totaling $2 million to Société Financière Haïtienne de Développement (SOFIHDES), a private Haitian development finance corporation with expertise in supporting small and medium-sized businesses. The SOFIHDES bank extends short and medium term loans to Haitian businesses and is one of the few Haitian financial institutions willing to finance start-up ventures. SOFIHDES also provides business skills training in feasibility studies, business plan preparation, accounting, and managerial training.
SOFIHDES is on-lending the Fund’s loans to Haitian enterprises, and is using the $210,000 technical assistance grant to update its loan management system and reporting capacity, as well as reinforce its credit process.
Some examples of SOFIHDES’ clients include DAUPHIN, a billboard advertiser, HENROPO, a carpentry manufacturer and installer, and Golden Crown, a produce exporter.
Why We Invested in SOFIHDES
Our grant and PRI loans to SOFHIDES reflects our commitment to long-term reconstruction and job creation, with a focus on supporting small and growing businesses.
Transforming Lives and Livelihoods
- Making financing accessible to credit-worthy enterprises.
- Financing entrepreneurs with immediate capital needs in key sectors such as construction, retail commerce, and agribusiness.
- Reduce credit risk through business traiing.
About SOFIHDES
Originally established 27 years ago by USAID (but now independent), SOFIHDES' core business is making short- and medium-term loans to Haitian SMEs. Through its on-the-ground experience, SOFIHDES has a sophisticated understanding of the SME sector in Haiti. Its expertise lies in the extension of short and medium term loans to productive enterprises in such sectors as trade, services, construction, retail commerce, and agribusiness. Learn more at www.sofihdes.com.
