Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is Grameen America?

April 26, 2017America grameen

0

10 Posted

What is Grameen America?

1 Answer

0

10 Posted

Grameen America is a nonprofit microfinance organization based in New York and founded by Nobel Peace Prize recipient Muhammad Yunus. Grameen America is dedicated to alleviating poverty and encouraging entrepreneurship through micro-credit. Grameen America provides small, low-cost loans to people living below the poverty line in the United States. These loans support income-generating activities. Grameen America launched its first branch in Jackson Heights, Queens in January 2008. As of August 15, 2009, Grameen America has disbursed over $2.3 million in loans to over 1,000 borrowers. Grameen America currently maintains a repayment rate of over 99%.