Our History
Founded in Queens, NY, in 2008, Grameen America builds on the legacy and proven model of Nobel Peace Prize Laureate Muhammad Yunus. His revolutionary but simple idea that all people can lift themselves out of poverty through their own entrepreneurial spirit has dramatically altered how the world views global poverty.
Our Services
Grameen America provides access to affordable business capital by offering first-time loans starting at no more than $2,500. As part of the program, members receive financial education, peer support, and make weekly loan deposits. We also report loan repayments to major credit bureaus, enabling our members to build their financial mobility.
Who We Serve
Our target population is women living in underserved communities, for whom the mainstream financial system is currently out of reach. Our members are women who previously had few options for accessing capital and most lacked bank accounts and credit scores.
Our Founder
Professor Muhammad Yunus
Professor Yunus, the “father of microfinance,” founded the Grameen Bank in Bangladesh on the premise that the poor are creditworthy. In 2006, Professor Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize “for their efforts to create economic and social development from below.” Professor Yunus is only one of six people in history to receive the Nobel Peace Prize, Presidential Medal of Freedom and Congressional Gold Medal. Professor Yunus published his work on microfinance and social business in his books Banker to the Poor, Creating a World Without Poverty, and Building Social Business.
The Urgent Need
It's hard to break the cycle.
Grameen America reaches a group of women that are historically excluded from the financial mainstream by other lenders due to lack of credit and financial history. Without access to capital, it is nearly impossible for under-resourced women to launch a business.
12.5%
of women live in poverty in the United States.
30%
of low-income neighborhoods are credit invisible.
4%
Women entrepreneurs account for only 4% of all conventional small business loans, which is roughly $1 out of every $23.
42%
of newly created women-owned businesses are started by Black women and 31% by Latina women.
The Opportunity
Grameen America offers women a hand up, not a handout.
Building a Path to Economic Mobility
Microloans
We provide women entrepreneurs access to affordable capital through microloans with short cycles and manageable repayment schedules. No credit history or collateral is required to qualify for a first-time loan of up to $2,500. After successfully completing the loan cycle, members can receive a larger loan with each subsequent cycle.
Peer Support
Our unique group-lending model enables strong peer networks and trust among members and loan officers. Beyond weekly Center Meetings, we host in-person events for members to meet, share business resources and advice, and strengthen their network of women-led business owners in their own communities.
Credit-Building
Credit is an important indicator of financial mobility. To close the credit gap, we help our members achieve a strong credit history by reporting their microloan repayments to credit bureaus. Typically, members without prior credit history achieve an average score of 650 after joining our program.
Education
We provide training to members before they receive their first loan and throughout their membership to increase financial knowledge and wellbeing. Workshops led by experts on a variety of business and financial topics are offered regularly for all members and they can join based on their interests and needs.
Savings
Grameen America’s new pilot savings program offers our members the opportunity to build assets, improve financial stability, establish generational wealth, and practice positive money-saving habits.
Health
We offer health education and health system navigation to members delivered by trained, local community health workers. The programming aims to improve health outcomes for thousands of women who are excluded from the mainstream health system.
Our Unique Model
