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COMING SOON TO A MAILBOX NEAR YOU
10 Year Anniversary Report |
 With only a dollar a day, you can have a direct impact on a family's life. Be the change you wish to see in the world and donate. |
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Microfinance and the Adelante Foundation Mission
"Adelante" in English means "forward" or "progress." Our mission is to improve the standard of living of the extreme poor in rural Honduras. To do that, we provide very poor women with the opportunity they so desperately seek, so as to build a better life for themselves and their families. We do this through a lending model called microfinance.
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HAPPY ANNIVERSARY ADELANTE!
This month, we proudly celebrate the Adelante Foundation's 10th Anniversary since giving our first loan in September 2000!
We have come a long way since the begining of operations, when we had 64 clients and gave an average loan of $50. Over the past 10 years, we have served 39,111 clients, provided 62,464 loans, presented 24,397 educational lessons, and opened five branch offices in eight Honduran departments (states). In 2010, we have 5,815 clients and have given 4,181 educational lessons. Our average loan size is now $133, although some clients still start businesses with a first loan of $50 and sometimes as little as $25. With an average of four children per family, Adelante has touched the lives of almost 200,000 Hondurans. In a country of nearly 7 million, Adelante has contributed to the reduction of extreme poverty.
Adelante's operations remain financially self sustainable! We have demonstrated through unity, discipline, hardwork and courage success is possible. Now, more than ever, our goals are clear: focus fundraising to raise capital for a growing loan pool, better fulfill the needs of current clientele and increase client retention.
"Virtual" Adelante Board Meeting, August 2010 | These goals were further defined in the recent Board of Directors meeting in August. The best way to quickly meet all three objectives is to develop new products . "Doing what is best for our clients will allow us to better serve their needs for financial services, provide good clients more opportunity with further loans and education, plus boost our fundraising efforts." - Mike Wiesner, Executive Director
"Virtual" Adelante Board Meeting, August 2010 |
We have seen that after four to five loan cycles there is a higher demand for larger individual loans to purchase a fixed asset or make another large investment in their business. While we currently offer an individual loan product, our goal is to raise enough capital through fundraising to grow more existing clients into the individual loan program.
The staff of Adelante Foundation operations encompasses the spirit of our clients. We give our field personnel the opportunity to work in their communities. We have 31 credit officers and administrative staff who are citizens of Honduras. Adelante's leadership also reflects our sustained commitment and connection to Honduras. Our Board of Directors is comprised of business leaders from both Honduras and the United States.
Appointed Executive Director in March, Mike Wiesner's dual role as the head of Honduran and US Operations provides a unique position of hands-on involvement and liason between the two countries. Sophia Anderson, who lives in La Ceiba with her family, was promoted to General Manager of Honduran Operations. Since then, the Board has seen good results and Mike even had this to say, "Sophia and the rest of the team have done a great job over the last six months. Now, we are in good position to look ahead and develop strategies on how we are going to continue the success into the next 10 years and beyond."
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 We would like you to meet....
Paula Dominguez, treasurer of her assembly and native of Santa Catarina, Intibuca. She took her first loan of $25 with Adelante almost four years ago and invested in a small bread and tamale business. At the time she was nervous about taking a loan, but over the past seven loan cycles her business has grown and her most recent loan was for over $400.00. Now she has expanded her income-generating activities to include growing beans, breeding pigs and raising dairy cows. When asked about the future, Paula said she wants to continue growing her various businesses and says she is hoping to be approved for an individual loan. |
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