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AdMerk Micro Finance is a branchless micro finance and private financial services company targeting merchants and the unbanked in Haiti and in Cameroon.

AdMerk wants to offer loans to existing merchants in emerging markets who are excluded from the banking systems. In making loans to existing merchants, we can mitigate our risks and keep the percentage of our bad loans to the absolute minimum possible. 

We have strategically partnered with the Mobile Payment called MonCash owned by Digicel cell phone company in Haiti. 

 

About Digicel 

Launched in Jamaica in 2001, Digicel is now active across 32 markets in the Caribbean, Central America, and Asia Pacific. The total mobile customer base of Digicel Haiti today is 4.5 million.

 

About MonCash

MonCash is a money management service that allows registered customers to make financial transactions from their mobile phones. Digicel Haiti offers this service in partnership with Sogebank of Haiti. MonCash offers financial transactions through P2P payments, merchant payments, and bill payments. 

 

About Sogebank 

Sogebank, formally known as Société Générale Haïtienne de Banque, S.A., is one of Haiti's three largest commercial banks. It was formed on April 26, 1986, when the Royal Bank of Canada sold its Haiti-based operations to a group of Haitian investors.

 

๐Ÿฆ AdMerk Micro Finance & Économie 

Many merchants in Haiti and in Cameroon are forced to save money at home because they do not have a bank account. As a result, these merchants do not have access to banking institutions to borrow money for their small business.

 

Faced with these problems, AdMerk is offering 2 services:

  1. AdMerk Micro Finance 
  2. AdMerk Économie

 

AdMerk Micro Finance 

AdMerk Micro Finance invites all merchants interested in funding their business to take a small business loan for their businesses: 

  1. The interest rate is very affordable
  2. Easy repayment terms
  3. Guarantee and cosigner are not required
  4. 10,000 gourdes in Haiti and 60,000 FCFA maximum loan for all new clients to establish their credit history with AdMerk Micro Finance 

The merchants can apply for a loan and see if they qualify by going online and follow this link: https://www.paugustin.com/admerk-micro-finance and submit the application electronically. They need their National ID card and for there 2 references.

 

AdMerk Économie 

Instead of hiding money at home, merchants can deposit their money into the AdMerk Économie as follows:

  1. 7 months at 0.50% interest rate per year
  2. 10 months at 0.75% interest rate per year
  3. 13 months at 5% interest rate per year

 

How AdMerk Économie Works in Haiti:

  1. Deposit any amount you wish via MonCash into AdMerk Économie Account
  2. Minimum duration of deposit is 7, 10 and 13 months
  3. AdMerk will pay you up to 1% interest on your 13 months deposits.
  4. At 12 months and 28 days, we will notify you that the entire deposit will be available for cash out on the 13th month.
  5. You are free to withdraw 100% of your deposit anytime, after 7, 10 and 13 months depending on the option you chose.
  6. If you decide to leave your deposit or do partial withdrawal, your money will NEVER be touched by AdMerk.

 

Loan Rates and Payment Terms in Haiti

1. 21 days loan at 1.75%

- Weekly reimbursement 

Loan amount: 10,000 gourdes or gdes or $2,000 HT

Credit Officer Fee: 500 gdes or $100 HT

Interest Rate: .0175 x 10,000 = 175 gdes or $35 HT

Administrative fee: .15 x 10,000 = 1,500 gdes or $300 HT

Total Loan Amount: 12,175 gdes or $2,435 HT

Weekly Repayment: 4,058.30 gdes or $811.66 HT

 

2. 30 days loan at 2.5%

- Weekly reimbursement 

Loan amount: 10,000 gourdes or gdes or $2,000 HT

Credit Officer Fee: 500 gdes or $100 HT

Interest Rate: .025 x 10,000 = 250 gdes or $50 HT

Administrative fee: .15 x 10,000 = 1,500 gdes or $300 HT

Total Loan: 12,250 gdes or $2,450 HT

Weekly Refund: 3,062.50 gdes or $612.50 HT 

 

3. 60 days loan at 2.80%

- Monthly Reimbursement

Loan amount: 10,000 gourdes or gdes / $2,000 HT

Credit Officer Fee: 500 gdes or $100 HT

Interest Rate: (.028 x 10,000) = 280 gdes or $56 HT

Administrative fee: .15 x 10,000 = 1,500 gdes or $300 HT

Total loan: 12,280 gdes or $2,456 HT

Monthly Payment: 6,140 gdes or $ 1,228 HT

 

4. 90 days loan at 3.5%

- Monthly Reimbursement

Loan amount: 10,000 gourdes or gdes / $2,000 HT

Credit Officer Fee: 500 gdes or $100 HT

Interest Rate: (.035 x 10,000) = 350 gdes or $70 HT

Administrative fee: .15 x 10,000 = 1,500 gdes or $300 HT

Total loan: 12,350 gdes or $2,470 HT

Monthly Payment: 4,116.66 gdes or $ 823.33 HT

 

Thank you for partnering with this social venture by AdMerk.

 

Sincerely, Pierre Richard Augustin, MPA, MBA, President and CEO

AdMerk Cell Phone and WhatsApp: 617-202-8069, Email: [email protected]

 

 Executive Team

1. Pierre Richard Augustin, MPA, MBA

2. Briget Ngampa, Vice President

3. Michele Gaskins, Real Estate Portfolio Asset Manager

 

1. Board of Directors: Michael Obiahu Chumekwua, MBA

2. Advisory Board

3. International Accounting Firm 

4. International Law Firm

5. USA Brokerage Firm: TD Ameritrade Financial Services

 

 

I. AdMerk’s Social Objectives

1. What industry is AdMerk in?

  • AdMerk is in the micro loan and financial services business.

 

2. What products and services do we offer?

  • AdMerk offers micro loan and financial services to merchants and the unbanked population in Haiti, Cameroon and other emerging markets strictly online.

 

3. What are the benefits to our clients?

  • AdMerk offers low interest and short term loan to merchants to expand their business and establish a credit history with our institution.

 

II. Our Goals 

1. What are the long-term business goals?

  • the long term goal is to expand our business models and systems of micro loans and financial services to other emerging markets.

 

2. What is the ideal response we would like to gain from our customers and industry?

  • From the customer point of view, AdMerk want to be seen as a trusted partner to help merchants grow their business.
  • For the industry, AdMerk want to be seen as an innovative, technology and customer focus and driven company.

 

3. What does AdMerk want to achieve through the business?

  • We want to give merchants and the unbanked access to micro loans and financial services.

 

III. Mission Statement

1.Why do we care about the work that we do?

  • Many merchants will benefit in obtaining low interest loan and financial saving services.

 

2. How do we think we can help our clients?

  • The main way to help our clients is to offer low interest loan to merchants.

 

3. How do we think we can improve our client’s lives?

  • We can empower the merchants by offering financial literacy, entrepreneurship and customer service education for self empowerment and improvement.

 

4. What makes the work we do meaningful?We want to assist our clients in growing their business.

 

IV. Target Audience 

1. Whom do we cater our business to?

  • AdMerk caters to small and mid-size merchants who are excluded from the banking systems in emerging markets.

 

2. Who is our ideal client or customer?

  • AdMerk’s ideal client is a merchant that is running a successful formal or informal business.

 

3. What factors should merchants consider when choosing our services?

  • The merchant must possess or have access to a smartphone with high speed internet service in order to visit our website or download our app to submit their micro loan request. 

 

V. Differentiations 

1. What makes AdMerk different?

  • AdMerk is different because we are branchless and operate strictly online.

 

Underwriting Principles of AdMerk

1. Objective

We approve loan requests for purposes that return not only the principal and interest, but will also give the borrower an adequate return, above and beyond the cost of capital. That is the economic rationale for what we do.

 

2. Why we focus on micro loan?

We seek to ensure that loan is accessible to small and mid-size businesses that have been historically “unbanked”, by evaluating repayment ability using the “cashflow” method as the predominant way of determining “to make a loan or not.”

 

3. What is cashflow analysis?

An analysis process, which evaluates the inflows and outflows of cash in a business and household. It determines the amount of the loan and repayments a client can afford. 

 

Cash flow is an indication of whether a company is likely to remain solvent, and knowing how to improve cash flow is an important part of maintaining a successful business.

 

In computing cash flow, Incoming cash takes the form of:

  • Sales of goods and services.
  • Sales of assets.
  • Loan proceeds.
  • Investments.

 

On the outgoing side, cash flows out through:

  • Operating expenses.
  • Direct expenses.
  • Assets purchased.
  • Debt service.

 

At the end of an accounting period, if the closing balance is higher than the starting balance, the cash flow is positive. If the closing balance is lower, the cash flow is negative.

 

4. Simple Cashflow Formula: 

Step 1: The cashflow starts with Total Business Income and subtracts Total Business Expenses to get Net Business Income (in cash).

+ Total Business Income

- Total Business Expenses

= Net Business Income (Business Income - Expenses)

 

Step 2: Household Cash Expenses are subtracted from Household Cash Income, to determine Net Household Income (in cash).

+ Total Household Income

- Total Household Expenses

= Net Household Income (HH Income - Expenses)

 

Step 3: Net Business Income is added to Net Household Income to find Total Net Income.

= TOTAL NET INCOME

(Net Business Income + Net HH Income)

 

5. Monitoring guidelines 

We will evaluate repayment rates, interest rates charged, collections policies and level of debt to ensure that everyone doing business with AdMerk is treated fairly. 

 

AdMerk Underwriting Guidelines for Credit Officers 

I. Step 1: NEW CUSTOMER 

1. The first client contact are made thru social media and radio ads, flyers and word of mouth ๐Ÿ‘„

2. Client complete application form online at our website or thru our mobile phone application. Then the application is assigned to the loan officer closest to the client.

3. Credit Officer call to verify that the borrower has a business whether formal or informal: if no, the process must stop ๐Ÿ›‘ because the credit officer will not be able to evaluate the repayment ability of the borrower using the cashflow method.

4. If yes that the borrower has a formal or informal business, then the credit officer can move to step 2 of the loan application process.

 

II. Step 2: LOAN APPRAISAL

1. Call up the 2 references submitted by the borrower to confirm they know the borrower. If the 2 references confirmed knowing the borrower in a positive manner then credit officer move to #2. 

2. However, if Crédit officer is only able to verify only 1 reference, then the Credit Officer must stop ๐Ÿ›‘processing that particular loan application and notify the borrower.

3. Credit Officer call the borrower to schedule a site visit to analyze his or her business. If the applicant does not show up for the appointment then it can be rescheduled one more time only. 

4. FIRST VISIT TO BUSINESS LOCATION - Credit Officer completes Loan Appraisal form and Cashflow form while conducting the site visit. 

5. Please be sure to capture the GPS coordinates of the borrower business with date and time stamps from the mobile phone since some businesses do not have formal and physical addresses.

6. If the indicator is negative, then the credit officer must stop ๐Ÿ›‘ the loan process and indicate to the borrower that based on the information submitted to perform the cash flow analysis, he or she will not be able to repay the loan. Then be polite and thank them for applying.

7. FIRST HOME VISIT - If the indicator is positive then the loan officer must schedule a visit at the residential home of the applicant. That step must be done without exception. 

8. If the applicant does not agree to a visit to his residential address, then the loan application process must stop ๐Ÿ›‘. Just be polite and thanks the applicant for his or her time.

9. At conclusion of first home visit, credit officer must capture in our mobile app or form the GPS coordinates of the borrower residential address with date and time stamps from the mobile phone

10. 2ND SURPRISE VISIT - Credit Officer must complete a 2nd but surprise visit to the borrower depending on the loan amount. If there are any signs of fraudulent activities, then the credit officer must stop ๐Ÿ›‘ the process.

 

III. Step 3: APPROVAL

1. Submission to Credit Committee in USA

 

IV. Step 4: DISBURSEMENT

Borrowers will sign Loan documentation electronically with full disclosure of his or her records sent via email or text message to the applicant phone number which must be verified to make sure that we respect the borrower privacy.

                         

V. Time Allocation of Lending Process 

A. Step 1: NEW CUSTOMER INTRODUCTION 

  1. First client contact thru social media, radio ads & word of mouth
  2. Client complete application form online at our website or thru the App: same day.
  3. Credit Officer call to verify that the borrower has a business whether formal or informal: up to 8 days.
  4. Credit Officer call up the 2 references to confirm they know the borrower 
  5. If the answers for #3 and #4 are yes, then credit officer can move forward with loan application: same day.

 

Total numbers of days can be 2 to 8 days.

 

B. Step 2: LOAN APPRAISAL

  1. Credit Officer conducts site visit to analyze business: 1 day.
  2. Credit Officer completes Loan Appraisal form and Cashflow form: 1 day.
  3. Credit Officer completes a 2nd but surprise visit to the borrower: 1 day.
  4. Final analysis and loan structuring: 1 day

 

C. Step 3: APPROVAL

  1. Submission to Credit Committee in USA: up to 5 days.

 

D. Step 4: DISBURSEMENT

Borrowers will sign Loan documentation with full disclosure online. 

 

 

AdMerk Underwriting Guidelines for Credit Officers

 

I Step 1: NEW CUSTOMER INTRODUCTION 

  1. The first client contact are made thru social media and radio ads, flyers and word of mouth ๐Ÿ‘„

 

  1. Client complete application form online at our website or thru our mobile phone application. Then the application is assigned to the loan officer closest to the client.

 

  1. Credit Officer call to verify that the borrower has a business whether formal or informal: if no, the process must stop ๐Ÿ›‘ because the credit officer will not be able to evaluate the repayment ability of the borrower using the cashflow method.

 

  1. If yes that the borrower has a formal or informal business, then the credit officer can move to step 2 of the loan application process.

 

II Step 2: LOAN APPRAISAL

  1. Call up the 2 references submitted by the borrower to confirm they know the borrower. If the 2 references confirmed knowing the borrower in a positive manner then credit officer move to #2. 

 

  1. However, if Crédit officer is only able to verify only 1 reference, then the Credit Officer must stop ๐Ÿ›‘processing that particular loan application and notify the borrower.

 

  1. Credit Officer call the borrower to schedule a site visit to analyze his or her business. If the applicant does not show up for the appointment then it can be rescheduled one more time only. 

 

  1. FIRST VISIT TO BUSINESS LOCATION - Credit Officer completes Loan Appraisal form and Cashflow form while conducting the site visit. 

 

  1. Please be sure to capture the GPS coordinates of the borrower business with date and time stamps from the mobile phone since some businesses do not have formal and physical addresses.

 

  1. If the indicator is negative, then the credit officer must stop ๐Ÿ›‘ the loan process and indicate to the borrower that based on the information submitted to perform the cash flow analysis, he or she will not be able to repay the loan. Then be polite and thank them for applying.

 

  1. FIRST HOME VISIT - If the indicator is positive then the loan officer must schedule a visit at the residential home of the applicant. That step must be done without exception. 

 

  1. If the applicant does not agree to a visit to his residential address, then the loan application process must stop ๐Ÿ›‘. Just be polite and thanks the applicant for his or her time.

 

  1. At conclusion of first home visit, credit officer must capture in our mobile app or form the GPS coordinates of the borrower residential address with date and time stamps from the mobile phone

 

  1. 2ND SURPRISE VISIT - Credit Officer must complete a 2nd but surprise visit to the borrower depending on the loan amount. If there are any signs of fraudulent activities, then the credit officer must stop ๐Ÿ›‘ the process.

 

III. Step 3: APPROVAL

  1. Submit the independent verification reports or audits of the loan document and the credit officer loan evaluation to AdMerk Credit Committee in USA.

 

IV. Step 4: DISBURSEMENT

Borrowers will sign Loan documentation electronically.

                         

 

V. Time Allocation of Lending Process 

 

A. Step 1: NEW CUSTOMER INTRODUCTION 

  1. First client contact thru social media, radio ads & word of mouth
  2. Client complete application form online at our website or thru the App: same day.
  3. Credit Officer call to verify that the borrower has a business whether formal or informal: up to 8 days.
  4. Credit Officer call up the 2 references to confirm they know the borrower 
  5. If the answers for #3 and #4 are yes, then credit officer can move forward with loan application: same day.

 

Total numbers of days can be 2 to 8 days.

 

B. Step 2: LOAN APPRAISAL

  1. Credit Officer conducts site visit to analyze business: 1 day.
  2. Credit Officer completes Loan Appraisal form and Cashflow form: 1 day.
  3. Credit Officer completes a 2nd but surprise visit to the borrower: 1 day.
  4. Final analysis and loan structuring: 1 day

 

C. Step 3: APPROVAL

  1. After an independent review and audit of the loan documents, Submission to Credit Committee in USA: up to 5 days.

 

D. Step 4: DISBURSEMENT

Borrowers will sign the Loan documentation online. 

 

 

AdMerk Cashflow Analysis

 

  1. Objective

We approve loan requests for purposes that return not only the principal and interest, but will also give the borrower an adequate return, above and beyond the cost of capital. That is the economic rationale for what we do.

 

  1. Why we focus on micro loan?

We seek to ensure that loan is accessible to small and mid-size businesses that have been historically “unbanked”, by evaluating repayment ability using the “cashflow” method as the predominant way of determining “to make a loan or not.”

 

  1. What is cashflow analysis?

An analysis process, which evaluates the inflows and outflows of cash in a business and household. It determines the amount of the loan and repayments a client can afford. 

 

Cash flow is an indication of whether a company is likely to remain solvent, and knowing how to improve cash flow is an important part of maintaining a successful business.

 

In computing cash flow, Incoming cash takes the form of:

 

  • Sales of goods and services.
  • Sales of assets.
  • Loan proceeds.
  • Investments.

 

On the outgoing side, cash flows out through:

  • Operating expenses.
  • Direct expenses.
  • Assets purchased.
  • Debt service.

 

At the end of an accounting period, if the closing balance is higher than the starting balance, the cash flow is positive. If the closing balance is lower, the cash flow is negative.

 

  1. Simple Cashflow Formula: 

Step 1: The cashflow starts with Total Business Income and subtracts Total Business Expenses to get Net Business Income (in cash).

+ Total Business Income

- Total Business Expenses

= Net Business Income (Business Income - Expenses)

 

Step 2: Household Cash Expenses are subtracted from Household Cash Income, to determine Net Household Income (in cash).

 

+ Total Household Income

- Total Household Expenses

= Net Household Income (HH Income - Expenses)

 

Step 3: Net Business Income is added to Net Household Income to find Total Net Income.

 

= TOTAL NET INCOME

(Net Business Income + Net HH Income)

 

  1. Monitoring guidelines 

We will evaluate repayment rates, interest rates charged, collections policies and level of debt to ensure that everyone doing business with AdMerk is treated fairly. 


Pierre Richard AUGUSTIN, President and CEO, AdMerk Corp. Inc., 20 F Street N.W. 7th Fl, Washington DC 20001 USA

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