Grameen America Reaches Microfinance Milestone

NEW YORK, May 15, 2013 /PRNewswire-USNewswire/ -- Grameen America, founded by Nobel Peace Prize recipient Muhammad Yunus, has expanded across the country to provide microloans to women living in poverty. In just five years the microlender has provided over 35,000 microloans to help build small businesses.

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Stephen A Vogel, CEO of Grameen America, said, "With opportunities and financial support, people can do amazing things.  Grameen America, together with our borrowers, is changing this country by reducing unemployment and poverty."

Typical loans of $2,000 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 continue to grow their business 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. Over 85% of borrowers return to Grameen America for another loan to continue the development of their business.

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 $80 million in microloans to over 16,000 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: Katherine Rosenberg
212-735-4023
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

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