Amid the Pandemic, Our Growth to Chicago Spurs Virtual Outreach
In December 2020, we opened our 23rd branch in Chicago, Illinois, deepening our footprint in the Midwest to support more economically underserved women during this critical period.
In a significant departure from our established in-person community outreach, the impact of COVID-19 and our responsibility to protect the safety of our staff and new members prompted the adoption of a virtual outreach and recruitment model. Today, our Chicago branch is 100% virtual, with our Branch Manager onboarding new members through video calls and distributing microloans via digital disbursement.
Following extensive on-the-ground research before the pandemic, we employed a data-driven model to analyze expansion areas based on population density, poverty among women of color and a significant unbanked population, with Chicago emerging as the leading city in need of our services.
As the third-largest city in the United States, Chicago has nearly 2.7 million residents, of whom 20.6% are impoverished and 21% of residents either unbanked or underbanked.
In its first year in Chicago, Grameen America projects it will serve over 300 women entrepreneurs and invest over $770,000 in local small business owners. After five years, the organization aims to have served more than 4,500 low-income women and invested over $4 million in the local community.
“Amid the ongoing economic and health crises exacerbated by the pandemic, Grameen America’s expansion to Chicago ushers in vital economic support to the city’s underserved entrepreneurial women of color,” President and CEO of Grameen America, Andrea Jung.
“Due to the historic inequities experienced by disenfranchised communities across the city, Chicago has long been a top priority for Grameen America. At the most crucial time in recent history, the opening of our new Chicago branch establishes our vision to bring financial inclusion and equity to vulnerable minority communities in Illinois.”
Grameen America Chicago opened with lead support from Citi and the Seedlings Foundation, with additional support from the Whole Planet Foundation. Our Chicago outpost will open a physical branch in Little Village, in the greater South Lawndale neighborhood, when it is safe to do so.
Pictured: Grameen America Branch Manager in Chicago, Thelma Suarez (left) performs a virtual loan disbursement to the first Grameen America member in Chicago, Martha (right). Martha owns and operates her own cleaning business and plans to use her first loan of $1,000 to purchase needed supplies, including detergents, mops and a new vacuum.