On October 28, 1998, Honduras suffered the greatest catastrophe in the nation’s history when Hurricane Mitch made landfall on its northern coast. Over three million citizens (51% of the total population) became homeless through the complete obliteration of 25 villages and 30,000 homes. The $3.8 billion in damages included 70% of roads, the destruction of 92 bridges and 90% of banana crops. The damage left in the wake of Hurricane Mitch prompted Stanford graduate, Tony Stone, who spent most of his childhood years in La Ceiba, to return to Honduras and start up Adelante operations in 1999. Based on the lending methodology established by the Grameen Bank of Bangladesh, Adelante’s mission is to improve the standard of living of the rural poor in Honduras by providing small loans and education to women so they can invest in micro businesses.
Our headquarters is located in La Ceiba and we have five branch offices that offer our integrative microfinance-education program to over 6,000 rural women across eight Honduran departments with a total loan pool exceeding $1 million: Atlántida, Colon, Islas de la Bahia, Cortes, Yoro, Intibucá, La Paz, and Choluteca. Honduras' fertility rate is 3.01 so we can speculate that with 6,000 clients we are reaching over 18,000 children. Our combination of microcredit and small business education ensures that our clients become successful entrepreneurs, and our repayment rate of over 97% proves it.