Butterfly Effect Microcredit Foundation

Butterfly Effect Microcredit Foundation continues to provide microcredit loan principal through agency agreements to Non-Government Organizations (NGO's) operating in Honduras and Guatemala. Loans are administered through third party agents Cause Canada and Open to Grow. New loan principal was distributed during the year in Guatemala and loans continue to be administered using existing principal in both Guatemala and Honduras. Butterfly Effect Microcredit Foundation distributed microcredit loan principal in Guatemala during the current year pursuant to a loan agreement with a third party agent Open to Grow.