EXHIBIT 10.14

          LOAN AGREEMENT DATED AUGUST 19, 1997 BETWEEN THE COMPANY AND
                           GEORGES C. ST. LAURENT JR.


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                                 LOAN AGREEMENT

         This Loan Agreement is made and entered into this 19th day of August,
1997, by and between Vitech America, Inc., a Florida corporation (the
"Borrower"), and Georges C. St. Laurent Jr., residing at 5115 Dubois Drive,
Vancouver, WA 98661 (the "Lender"). The Borrower has requested the Lender to
provide a loan facility in the principal amount of $10,000,000. The loan will be
evidenced by senior convertible notes issued by the Borrower in favor of the
Lender with the following terms and conditions:
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<S>                                 <C>    
ISSUER:                             Vitech America, Inc. (the "Company")

SECURITIES:                         Senior Convertible Note (the "Note")

PRINCIPAL AMOUNT:                   $10 million in two tranches of $5 million.
                                    The Company shall have the option to draw
                                    the second tranche after 45 days from the
                                    first tranche.

COUPON RATE:                        10%

COUPON PAYMENTS:                    Payable monthly in cash

MATURITY:                           2 years

PRINCIPAL PAYMENTS:                 Outstanding principal balance at maturity

USE OF PROCEEDS:                    General corporate and working capital
                                    purposes

CONVERSION TERMS:                   The Note shall be convertible in whole or in
                                    part at the option of the holder with no
                                    less than 90 days notice to the Company.

CONVERSION:                         (a) INITIAL CONVERSION PRICE: The Note shall
                                    be convertible at the rate of one share of
                                    common stock for each $16.10 of principal
                                    converted.

                                    (b) CONVERSION PRICE RESET FEATURE: If the
                                    put feature described below is exercised by
                                    the Note holder, and the Company does not
                                    pay the full redemption price when due, then
                                    the conversion price shall be reset to equal
                                    the lesser of (i) the Initial Conversion
                                    Price, or (ii) 85% of the average closing
                                    bid price for the 45 trading days prior to
                                    conversion. The note holder will agree to
                                    not short the Company's stock while this
                                    feature is available.

HOLDER PUT RIGHT:                   Commencing one year after the date of
                                    issuance, the holder shall have the right to
                                    cause the Company to repurchase the
                                    outstanding principal at a price equal to
                                    110% of the principal thereof plus accrued
                                    and unpaid interest. The put shall increase
                                    at 1% per month until maturity of the note,
                                    i.e. 110% plus 1% for each additional month
                                    after the twelfth month. The put right must
                                    be exercised on at least 60 days prior
                                    written notice to the Company. After
                                    notification of the note holder's desire to


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                                    exercise the put option, anti-dilution
                                    provisions will be null, unless the put is
                                    not successful, whereupon the anti-dilution
                                    rights shall return to full force. If the
                                    note holder has informed the Company of his
                                    desire to put the note back to the Company,
                                    and in the event that the Company arranges
                                    new investors in a structure that is
                                    dilutive to the note holder, the note holder
                                    shall have the right to invest or
                                    restructure the note at the same terms as
                                    the new investor.

CALL PROVISION:                     The Company shall have the right to redeem
                                    the Note at 100% of principal at any time
                                    plus 1% per month for each month the note is
                                    held, with a cap of 110%, subject always to
                                    the conversion rights of the holder. Upon
                                    notice of the holder's intent to convert,
                                    the Company's right to call the Note shall
                                    be surrendered

REGISTRATION RIGHTS:                Upon notification of the Holder's intent to
                                    convert, the Company will use its best
                                    efforts to file a registration statement on
                                    Form S-3 to register a sufficient number of
                                    shares of common stock to satisfy the
                                    conversion of the Note.

ANTI-DILUTION RIGHTS:               The note holder shall be entitled to
                                    anti-dilution rights. Upon notification of
                                    the Holder's intent to convert, the
                                    anti-dilution provisions will be null,
                                    unless the put is not successful, whereupon
                                    the anti-dilution rights shall return to
                                    full force.

OTHER RIGHTS:                       If the Company consummates a structure more
                                    favorable to investors after the date of
                                    this note, then the note holder shall be
                                    entitled to either adjustment in the terms
                                    to meet the terms of the new investors, or
                                    repayment of the principal amount plus
                                    interest owing.
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In witness whereof, the parties hereto have executed this Loan Agreement as of
the day and year first above written.

Vitech America, Inc. (the "Borrower")           Georges C. St. Laurent Jr. 
                                                (the "Lender")


By:/S/ EDWARD A. KELLY                          /S/ GEORGES C. ST. LAURENT JR.
----------------------                          --------------------------------
   Edward A. Kelly                              Georges C. St. Laurent Jr.
   Its: Chief Financial Officer