What is Grameen America’s approach to encouraging savings by its borrowers?
Grameen America puts a strong emphasis on the importance of regular savings. Grameen America borrowers must demonstrate a pattern of savings as part of their qualification for loans. Savings are required during the life of each client’s loan relationship with Grameen America. More specifically, Grameen America requires savings during the client’s initial “group training” period of $2 per day for 5 days and $2 per week during the program. On average, borrowers have deposited more than this minimum.
