Grameen America provides affordable micro-loans to financially empower low-income entrepreneurs.
Our vision is to help create a world free of poverty. We predict a market where any individual with a dream can receive affordable financial products regardless of income, previous credit history, education, or business experience. We envision a world where burgeoning entrepreneurs are empowered to lift themselves out of poverty through hard work and determination to forge better lives for their families and future generations.
Grameen America has assembled a top management team, including Chairman of the Board Professor Muhammad Yunus, to lead the organization’s efforts to help break the cycle of poverty through microfinance in disadvantaged U.S. communities. Grameen America began its operations in New York City in January 2008 and is working to reach sustainability and to expand its services to all individuals with a dream to run a business.
Grameen America was founded upon the belief that Grameen Bank, a system that has succeeded with remarkable results in the villages of Bangladesh, could work in urban America. Professor Yunus believes that for the world to really take notice of the power of microfinance, it has to work in the capital of international finance, New York City. Under the façade of New York City’s grandeur, there exists a huge population of underserved people who do not have access to banks and mainstream financial institutions. Grameen America opened its doors in January 2008 during the largest financial crisis of the modern era. Despite being a new player in the domestic microfinance industry, Grameen America experienced considerable growth during its first year. In the first three months, Grameen America disbursed more than $350,000 in micro-loans and had over 165 borrowers.