Microloans for 50 Impoverished U.S. Entrepreneurs

by Grameen America

Summary

Grameen America offers microloans, financial education and credit building opportunities to impoverished small business entrepreneurs in the United States.
$5,124
total raised
67
donors
0
monthly donors
5
years active

Challenge

In today's struggling economy, impoverished Americans who dream of becoming entrepreneurs lack the credit, collateral or guarantor, which are required to obtain a loan from a corporate bank. As a result, they are often driven to borrow from loan sharks and other rogue lenders, who demand backbreaking interest rates and thrive off of the borrowers inability to payback loans.

Solution

We offer microloans without collateral, a guarantor or previous credit history, using the Grameen Bank lending model which has helped over 100 million people worldwide. We also partner with Experian, a national credit agency, to help build credit.

Long-Term Impact

Funding for 50 microloans not only provides first time entrepreneurs with the loan capital to start a business but also financial education and community support through the peer lending model, a group of five borrowers which acts as a support group.

Additional Documentation

This project has provided additional documentation in a Microsoft Word file (projdoc.doc).

Resources

http:/​/​www.grameenamerica.com
Professor Mohammad Yunus at Duke University
Grameen America Brings Microfinance to NYC
Grameen America's Blog

Organization Information

Grameen America

Location: New York - USA
Website: http:/​/​grameenamerica.com
Grameen America
Project Leader:
Katherine Rosenberg
New York, New York United States

Retired Project!

This project is no longer accepting donations.
 

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