October Newsletter

"Limitless" Potential

In August, the Adelante Foundation implemented new credit limit policies. These policies will expand opportunities for our clients whose success has increased their payment capacity. We want to be able to grow with our clients who previously reached the maximum loan size around their fourth loan cycle. We expect that by easing the restrictions on our loans we can encourage advanced business development and increase client retention.

Ana Yadira Euceda is an Adelante client excited about these changes! When Ana first heard the news from her credit officer, Cesar, she was thrilled. She wants to invest in a bigger stove and extra refrigerator for her cafeteria business. Ana had been considering leaving Adelante to join another microfinance institution that offered bigger individual loans despite the additional paperwork and collateral other institutions require. Now, Ana can better utilize her credit history with Adelante to apply for a loan that meets the needs of her evolving business. With clients like Ana, who have achieved so much, Adelante wants to be responsive to her needs as they change and grow along with the success of their businesses.

Despite the fact that Ana has only received a sixth grade education, she is a prosperous entrepreneur. With her first loan of L.3,500($184), Ana started a cafeteria at the local public school where she sells meals, drinks and snacks. A second loan of L.6,000 ($315) grew her business, including adding new products to sell. Currently, Ana is on her third loan of L.8,000 ($421), which she is using to start a new business of producing and selling tamales. Ana works in the cafeteria in the morning and spends afternoons selling tamales in the local market.

Ana first heard of the Adelante Foundation through her neighbor and close friend, who has been an Adelante client for more than two years. She is 30 years old, married and has four children in school. Ana says she has had "una buena experiencia" (a good experience) with Adelante. The charlas (educational presentations) have also taught Ana how to interact in a group, speak publicly and treat her clients better. Adelante has provided her the opportunity to work her way out of poverty with loans, but also with a forum where she has met other hard working women of whom she has grown very fond.

Adelante strives to develop clients like Ana, who have achieved so much through unity, hard work, discipline and courage. To do so, we must continue to grow our loan pool. Currently, all fundraising efforts are to raise capital for investment in clients like Ana.