Revolving Loan Fund

 (Formerly "Ya Pasó Isidoro")

Hurricane Isidoro sat on top of the state of Yucatan for more than 18 hours in September 2002. The most destructive hurricane in the history of the state (since the Spanish conquest in 1542), many people struggle to regain what they lost to this day. The area most affected was the northwestern part of the state, the former henequen growing region, although severe damage to infrastructure was generalized, and entire harvests were lost. This event gave rise to the Loan Fund, which provides small loans to people who have no other access to funds to advance productive projects.

   In October of 2002, CTripleS initiated a  revolving loan fund specifically targeting artisans who had lost the equipment they needed to carry on with their work. Using private donations, several small loans were made to enable individual "herreros" (welders who make wrought iron security grates and decorative items) to replace their soldering machines ruined in the storm and carpenters to replace tools lost or damaged beyond recovery. The loans were made with generous terms for repayment, and are interest free. Risk was low, as there was (and remains) significant demand for these services for repair of houses and public buildings. While personal circumstances prevented two of the borrowers from complete repayment of the loans, eighty percent of the funds remain available to support small business people needing access to micro-loan assistance to further their capabilities.