The most detrimental Hurricane to hit the Caribbean in the last century, Hurricane Mitch, tore through Honduras in the fall of 1998.
Meanwhile, Tony Stone, who spent most of his childhood on the northern coast of Honduras, watched with horror as the news filled with images from the wreckage. Pieces of homes and businesses from his childhood neighborhood swept down the flooded streets, and the already poor infrastructure of his country collapsed. He knew he had to do something in response to the destruction.
After extensive research on sustainable poverty alleviation, Tony came across the idea of microfinance. He was convinced that loaning money rather than giving it away was the key to rebuilding Honduras and was determined to make it happen. Tony was committed to working in rural areas with the poorest of the poor and serving marginalized women. With the support of venture capitalist and philanthropist Ed Cohen, the foundation was born. The Spanish word for “forward,” is Adelante, and the name encompassed the efforts to move out of poverty.
On September 14, 2000, Adelante disbursed its first loans. Today, Adelante continues to change lives, moving Honduras forward one loan at a time.