Microloans for 50 Impoverished U.S. Entrepreneurs

 
$5,124
$69,876
Raised
Remaining
Sep 27, 2011

September 2011 Report

Loan Disbursement
Loan Disbursement

Grameen America is so please to be a member of GlobalGiving community. We are proud to share with you some of the great work that has been funded, in part, by your generosity.

The support of the GlobalGiving community allowed us to reach a significant milestone this month, surpassing 7,300 members in the Grameen America program. We have more than doubled the size of the program from last year and are dedicated to maintaining our commitment to providing new opportunities to low-income communities. Most recently we have opened up branches in Indianapolis, IN and as of September 2011, Bronx, NY. Keep your eyes open for new branches in San Francisco, CA, Carlotte, NC, and more!

Over the past three years we have disbursed over $25 Million dollars in microloans in New York, Nebraska, and Indianapolis. The track record of our members in New York, Nebraska and Indianapolis. The track record of our members clearly shows how serious they are about improving their lives and those of their families. They have maintained a repayment rate near 99% and an equally high attendance rate at center meetings.

 Iin order to ensure the program's positive growth, we have made savings and fiscal education a top priority. While prgram members are encouraged to contribute a minimum of $2 each week to their personal savings, we find that they are generally saving much more than the required minium. To date, Grameen America members have deposited over $850,000 in savings.

 We hope to bring you additional updated including news of additional branches, exciting new programs and borrower stories within the coming year. Stay tuned to our website and social media channels for daily updates.

Passbook
Passbook
New Loan
New Loan
Lucia
Lucia's handmade dress
Lucia
Lucia's business in action
Weekly Group Meeting
Weekly Group Meeting

Links:

Mar 3, 2011

February Project Report - A Milestone Month

Grameen Center Meeting
Grameen Center Meeting

Grameen America is so pleased to be a member of the GlobalGiving community.  Now that we are officially onboard, it is time for us to share with you some of the great work that has been funded, in part, by your generosity.

We raised over $5,000 through GlobalGiving during the Open Challenge toward our goal of $75,000 for 50 Microloans for Impoverished U.S. Entrepreneurs.  The amount raised during the Open Challenge provided funding for 3 microentrepreneurs.

The tremendous support of the GlobalGiving community allowed us to kick off 2011 with a significant milestone, surpassing 5,000 members in the Grameen America program.  We have more than doubled the size of the program from last year and are dedicated to maintaining our commitment to providing new opportunities to low-income communities. 

Over the past three years we have disbursed over $14 Million dollars in microloans in New York and Nebraska.  The track record of our members clearly shows how serious they are about improving their lives and those of their families.  They have maintained a repayment rate near 99% and an equally high attendance rate at center meetings.

In order to ensure the programs positive growth, we have made savings and fiscal education a top priority.  While program members are encouraged to contribute a minimum of $2 each week to their personal savings, we find that they are generally saving much more than the required minimum.  To date, Grameen America members have deposited over $650,000 in savings.

We hope to bring you additional updates including news of additional branches, exciting new programs and borrower stories within the coming year.  Stay tuned to our website and social media channels for daily updates.

Grameen Center Meeting 2
Grameen Center Meeting 2
Meeting at the Jackson Heights Branch
Meeting at the Jackson Heights Branch

Links:

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Organization

Project Leader

Katherine Rosenberg

New York, New York United States

Where is this project located?

Map of Microloans for 50 Impoverished U.S. Entrepreneurs