The Adelante Foundation of Honduras will provide micro loans to very poor women in rural Honduras for them to start and grow small businesses. The income will support the woman and her family.
What is the issue, problem, or challenge?
Honduras, with 55% unemployment, is the second-poorest country in the Western Hemisphere, behind only Haiti. Although entrepreneurial spirit thrives, for the rural poor, there is absolutely no access to capital. The Adelante Foundation (Adelante is the Spanish word for forward, or progress) is filling the gap, providing much-needed access to capital to the motivated rural poor. Adelante also provides financial training and life skills training to our borrowers.
How will this project solve this problem?
Providing much-needed loans to rural poor women in Honduras to start their own businesses.
Potential Long Term Impact
Beneficiaries will be able to raise the standard of living for themselves and their families, by using their profits to eat better food or have access to medicine. After repaying their loans, those funds will be re-loaned to new women.
Total Funding Received to Date: $3,454
Funding Policy: subsidized/guaranteed
This project is now in implementation and no longer available for funding. Received funds will be used to accomplish concrete objectives as indicated in the project's "Activities" section. Updates will be posted under the "Project Report" tab as they become available.
Donors' contributions and pledges to this project totaled $3,454 as of Feb 26, 2004. The original project funding goal was $11,000.