The H.E.R.D. (Haiti Economic Research & Development) initiative is a group of students, faculty, and alumni in central Alabama who are working together to promote economic development in Haiti.  The goal is to provide small investment opportunities for entrepreneurs in rural Haiti for the purpose of creating jobs in the area.

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Although substantial financial aid was sent to Haiti following the earthquake of 2010, the aid was not invested in projects that resulted in sustainable economic development.  There currently is a very pressing need for the encouragement and nurturing of sustainable business ventures in rural Haiti.  Haiti is currently the poorest country in the Western Hemisphere, and the people endure some of the worst living conditions in the world.  We believe that the country desperately needs consistent support of small business ventures and micro-entrepreneurship through education, advisory support, and connection to financing opportunities.

 

Our research in Haiti revealed that financing through micro-lenders or other financial institutions in Haiti is extremely difficult, if not impossible.  The most significant obstacle to financing is the requirement that the Haitian lender have substantial collateral for the loan.  However, the extreme majority of Haitians do not have any collateral to offer.