Grameen America Opens 11th Branch in Charlotte, North Carolina
Grameen America inaugurated its eleventh branch in Charlotte, North Carolina on December 28th, 2012 with the disbursement of loans (each amounting to $1000 USD) loans to four low income female entrepreneurs. Grameen America has been working tirelessly since 2008 to alleviate poverty by providing micro-entrepreneurship loans to low-income people. Microcredit is a powerful and innovative tool that equips borrowers with the skills and resources to improve their status of living and gain financial independence.
Grameen America was founded by Nobel Peace Prize Laureate Professor Muhammad Yunus during the global economic crisis, which had a severe impact on the middle and low-income classes of America. Demand for government and charitable assistance skyrocketed during this time. Professor Yunus believed that the Grameen Bank methodology of microfinance - which had helped millions cross the poverty line in rural Bangladesh - could be implemented successfully in the United States of America. Grameen America has since recruited over 13,000 members and disbursed more than $65 million (USD) in loans.
Grameen America was founded by Nobel Peace Prize Laureate Professor Muhammad Yunus during the global economic crisis, which had a severe impact on the middle and low-income classes of America. Demand for government and charitable assistance skyrocketed during this time. Professor Yunus believed that the Grameen Bank methodology of microfinance - which had helped millions cross the poverty line in rural Bangladesh - could be implemented successfully in the United States of America. Grameen America has since recruited over 13,000 members and disbursed more than $65 million (USD) in loans.
GAI update as on December 28, 2012
Charlotte is the sixth American city that Grameen America has expanded to. The branch received financial support from the municipality and major corporate donors to support its launch and programming. The Charlotte branch hopes to recruit low-income families that earn less than an annual $12,000 (USD) in an effort to reach the most impoverished.
