Grameen America Disburses Over $100M in Microloans

Over 18,000 women build small businesses with access to capital from Grameen America

NEW YORK, Sept. 26, 2013 /PRNewswire-USNewswire/ -- Grameen America, founded by Nobel Peace Prize recipient Muhammad Yunus, has expanded across the country to provide over $100M in microloans to women living in poverty. In just five years the microlender has provided more than 40,000 microloans to help build small businesses.

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"Reaching $100M in loans disbursed is a significant milestone, but the real success lies in the remarkable women who have used these loans to expand their businesses, create jobs and transform communities across the country," said Stephen A. Vogel, CEO of Grameen America.

Typical loans of $1,500 enable members to purchase a sewing machine to start a home-based tailoring business, to buy a small food cart, or to rent a chair in a hair salon to begin providing services.

Grameen America borrowers grow their businesses with each loan. "Participating in the Grameen Program has made me see that there are still people out there that believe in what you can do," said Delia, a Grameen America borrower. Grameen America provides continued support to entrepreneurs as their businesses grow.

About Grameen America:

Founded by Nobel Peace Prize recipient Muhammad Yunus, Grameen America is dedicated to helping women who live in poverty build small businesses to create better lives for their families. We offer microloans, training and support to transform communities, create jobs and fight poverty in the United States. Since opening in January 2008, Grameen America, has disbursed over $100 million in microloans to over 18,000 women. Started in Jackson Heights, Queens, Grameen America has expanded across New York City and in Indianapolis, IN, Omaha, NE, San Francisco Bay Area, CA, Charlotte, NC and Los Angeles, CA.

Media Contact: Howard Axel, 212-735-4043,
Email: [email protected]

Additional information may be found at www.grameenamerica.org | Twitter: @GrameenAmerica | Vimeo: http://vimeo.com/grameenamerica | Blog: http://grameenamerica.org/blog/ | Facebook: https://www.facebook.com/GrameenAmerica | Photos: high resolution images available upon request

SOURCE Grameen America