Now, more than ever, our members need your support.
To help us provide essential capital and services to our members at this time of need, we are announcing the launch of the Grameen America Economic Relief & Recovery Fund, with the goal of raising $72 million.
As economic activity in cities across the country grinds to a halt, the low-income women entrepreneurs we serve will endure the hardest financial consequences. The Fund allows Grameen America to play a vital role in the resilience and recovery of small businesses across this country.
During their unprecedented time of need, we remain dedicated to providing the women we serve with the capital they require to help their businesses and families weather this storm.
In Response to COVID-19, Grameen America adapted its model to offer members needed relief and recovery.
Zero Interest Rate
All current Grameen America loans will be interest-free until June 30, 2020.
Zero Digital Repayment Cost
Grameen America will cover members’ costs to digital repayment vendors to support safe, virtual operations.
Loan Extensions Up to Six Months
Members who are having difficulty repaying their loans can choose to extend their loan and reduce their weekly repayment by half.
Recovery Loans
We will make recovery loans to members in distress who need a temporary cash infusion to resume business operations.
All funds raised will be used to support members during this time of need.
As Grameen America members adapt their business models to overcome this period of overwhelmingly slow economic activity, we are prepared to play a critical role in their resilience and provide them with the assistance they gravely require. Grameen America's goal for the Fund is to:
Help members experiencing financial hardship,
Provide members with 0% interest loans,
Reimburse members’ fees for digital repayment vendors,
Support Grameen America’s transition to virtual operations.
We hope you will consider joining us in this vital endeavor by supporting the Grameen America Economic Relief and Recovery Fund.