In response to COVID-19, Grameen America adapted its model to offer members needed relief and recovery

The current economic crisis in the United States disproportionately affects our members: low-income women whose economic survival is dependent on their small businesses. As they 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.

Effective immediately, Grameen America is lowering the interest rate on existing loans to 0%, offering loan extensions to members who are unable to make their weekly repayments, and covering all member costs to digital repayment vendors to support safe, virtual operations. These changes will give our members the flexibility to deploy their business capital where and when it is needed the most, with no concern for interest costs or external repayment fees.

To help us provide essential capital and services to our members at the time that they need it the most, we are announcing the launch of the Grameen America Economic Relief and Recovery Fund, with the goal of raising $72 million. The Fund will directly support our members, allowing us to provide loans at 0% interest and cover members’ costs to digital repayment vendors.
 
We hope that you will consider joining us in this vital endeavor by supporting the Grameen America Economic Relief and Recovery Fund.