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House Hansard - 167

44th Parl. 1st Sess.
March 9, 2023 10:00AM
Context: House Hansard - 167 - Mar/9/23
Ms. Soraya Martinez Ferrada (Hochelaga, Lib.)
  • Mar/9/23 2:14:57 p.m.
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Mr. Speaker, on March 11, Quebec will celebrate its Journée nationale du microcrédit, or national microcredit day. MicroEntreprendre is a group of 20 organizations that promote economic and social development, particularly for low-income women, immigrants or people with disabilities. Through their guidance and support, they help make the dreams of thousands of entrepreneurs come true. So far, more than 6,384 businesses have been created and maintained. In Hochelaga, the Nabou Beauty hair salon was financed by Microcredit Montréal. Ms. Dieynaba Samb is proud to have created a mini Senegal where her community can, for the length of time it takes to get their hair cut, reminisce about their country. For 32 years, Microcredit Montréal has been fighting poverty and exclusion by providing small loans for people who do not have access to the traditional financing system. The five-year survival rate among these businesses is twice the Quebec average and the repayment rate exceeds 90%. The secret to this success is proximity, trust, guidance, a Quebec-style microcredit approach that means community credit.
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