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What We do
Grameen America provides affordable micro-loans to financially empower low-income entrepreneurs.
Communities Served: Grameen America currently operates 6 branches in New York City (Queens, Manhattan, Brooklyn,
and the Bronx), Omaha, NE and Indianapolis, IN.
Group-Lending Model: One of the unique pieces of the Grameen model is our group-lending. Borrowers must form a
group of five peers to receive a loan. They meet each week with this group and a Grameen America Center Manager to
repay the loan principal, interest, and deposit savings. These weekly meetings create a platform of peer support where
borrowers can discuss successes and challenges of their businesses.
Products and Services:
Low-cost loans
Credit Establishment
Savings Program
Financial Education
Loans for Entrepreneurship: 100% of Grameen America microloans support income-generating activities.
Financial Education: Borrowers receive ongoing training in financial literacy through the weekly Center meetings
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Current Success
Variable Total
Total Borrowers 8,430
Loans Disbursed >$32MM
Savings Deposited1 ≈ $970,000
Maximum 1st Time Loan $1,500
Average Credit Score2 640
Interest Rate3 15% on a declining balance
1
All borrowers are required to deposit minimum of $2/week in savings
2 For borrowers that don’t have credit history, after 6 months of regular repayment with GA, scores reach 640
3 GA charges 15% on a declining balance. We do not charge any additional fees or application charges.
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How We Work
1 2 3
Mary, who lives below The group goes through an Upon successful completion of training and
the poverty line, selects initial 5-day financial opening a savings account, each borrower
and forms a group with training program; Each gets a small business loan to start or expand
4 other people she trusts borrower has to contribute a business and generate income
$2/day to savings
• Maximum first time loan - $1,500
• 6 -12 month loans
• 15% interest rate on a declining
basis
• No collateral required
Capital and Job
Growth
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Financial Grameen America offers
Savings • Borrowers meet on a weekly
Education a powerful poverty
basis with Grameen America’s
alleviation tool that
Center Managers
builds on the following
• Meetings are held in borrowers’
key elements
Capital Mentoring homes or a nearby common
space
Credit
Building
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Professor Muhammad Yunus
Grameen America was founded by Professor Muhammad Yunus,
considered by many the “father of microcredit.”
For his work fighting poverty from the ground up in Bangladesh,
Professor Yunus and the Grameen Bank he founded won the 2006
Nobel Peace Prize.
On August 12, 2009 Yunus was awarded the 2009 Presidential
Medal of Freedom – the highest civilian honor a US President can
bestow – at the White House.
Started in January 2008, Grameen America represents Yunus’
mission: to bring Grameen microcredit to the US, where the need
for basic community banking for low-income families.
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Contact Information
For More information please contact:
Katherine Rosenberg
Vice President, Strategic Partnerships
krosenberg@grameenamerica.org
212-735-4023
www.grameenamerica.org
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