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TOPSY TURVY MICROFINANC
EIn Downtown Kingston
Caroline Hossein University of Toronto/ US Fulbright
Research Associate CAPRI 26th October 2009, Jamaica
MINA, 48, ARNETT GARDENS
Why can’t you get a small small loan?
“Area where yuh live–eyebrow go up, dey luk at yuh, den di bady language start and a long story wid a ‘hole heep a paper ting to break yuh spirit. Yuh know yuh noh get dem money.”
SAMPLE SIZEMicro business owners
Maxfield Park
Whitfield Town
Arnett Gardens Rosetown
Denham Town Tivoli Gardens Total
Total Focus Groups 13 20 14 14 16 77
Total Individual interviews 22 29 33 31 15 26 156
Total Micro Business Owners 35 29 53 45 29 42 233
Stakeholders 42
Microfinance Retailers and Wholesalers 32
Total Elite Interviews 74
Sample Size 307
CRITERIA FOR MICRO BUSINESS PERSON IN THIS STUDY
(1) full-time & legal activities
(2) gross monthly sales from J$20,000 to J$300,000
(3) micro loan and/or throw partner
ACCESS TO MF, N=233
32%
7%
61%
Chart Title
Yes, I have a loanUsed to have a loanNo, I never had a loan
Do you have a micro loan or did you ever have a micro loan for your business?
TYPE OF MICRO BUSINESSES IN SAMPLE,
N=233
1%
69%
9%
21%
WholesaleRetailServicesPro-duction
TYPE OF MF RETAILERS IN STUDY, N=28
8%
15%
23%
23%
31%Member ownedFinancial CompanyNon profit/ Founda-tionGovernment or-ganizationAFI status
HIGHLIGHTS FROM FINDINGS, N=233
61% can’t get a micro loan
retail sector dominates MF
missing men
89% business full time
45% on “capture” land
83% not registered
MORE HIGHLIGHTS
76%, N=233 are hopeful about MF kick-start business thru personal
efforts mi luv mi partna 62%, N=233 feel discriminated
against
WHAT ARE MF PRACTITIONERS SAYING?
N=28
Don’t know
Yes
No
0% 20% 40% 60% 80%
4%
64%
32%
Do you think your org’s interest rates on micro loans can
come down?
36%
28%
28%
8%
Is MF effective at reducing poverty?
Yes it is
No
Skeptical about MF doing this
Don’t know ei-ther way
DID YOU HAVE A HARD TIME GETTING
A SMALL LOAN? N=233
28%
31%
41%
Chart Title
Yes, I had a hard time getting a loanNoNever tried getting a loan
76%, N=233 of business persons believe that micro loans can help their business prosper.
IT’S WOMAN TIME NOW
52% of retailers say: Women get the edge
Client base: 60-83% women
WOMEN DOMINATE MF
women loan officers
women clients
women staff
senior women managers
0% 10%20%30%40%50%60%70%80%90%
78%
75%
73%
58%
MORE WOMEN, MORE BALANCE?
bias and unresponsive HR
potential for home-based conflict
‘push ooman fi get mi loan’
PERSPECTIVES ABOUT ACCESS
location, location, location discrimination
missing men
41% said rates too high
MORE ON ACCESS ISSUES
less rigmarole, more loan
96% believe links run tings
mi nah bright
useful loans
WRAP UP
context matters
three-way conversations
branding microfinance
WRAP UP
build trust
people centered
accountability
