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Media Kit 2010
What We do
Grameen America is a nonprofit microfinance organization based in New York

Communities Served: Grameen America...
Muhammad Yunus
Grameen America was founded by Professor Muhammad Yunus,
considered by many the “father of microcredit.”

F...
Progress and Milestones
January 2008 – Grameen America begins lending in Jackson Heights, Queens

November 2008 – Grameen ...
Small loans change lives: Delia’s story
Originally from Cuenca Ecuador, Delia came to the United States in search of bette...
Financial Overview
      - Disbursed over $5 million to more than 2,600 low income borrowers

      - Repayment rate great...
In the Media
                                                 Grameen America Media Coverage: Highlights
                M...
TIME Magazine
January 11, 2010
Plans for the Future: Expansion and Sustainability
Grameen America currently operates branches in New York City and Omaha,...
For more information, contact:
Katherine Rosenberg
krosenberg@grameenamerica.com
212-735-4023
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  1. 1. Media Kit 2010
  2. 2. What We do Grameen America is a nonprofit microfinance organization based in New York Communities Served: Grameen America currently operates in New York City and Omaha, Nebraska. Mission: Grameen America is dedicated to alleviating poverty and encouraging entrepreneurship in the US. Products and Services: Grameen America provides low-cost loans, savings programs, credit establishment, and financial education to people living below the poverty line. Group-Lending Model: Borrowers must form a group of five peers and attend weekly meetings. Loans for Entrepreneurship: All Grameen America microloans support income-generating activities. Asset-Building: Borrowers are required to make a savings deposit each week. Financial Education: Borrowers receive ongoing training in financial literacy and money management.
  3. 3. Muhammad Yunus Grameen America was founded by Professor Muhammad Yunus, considered by many the “father of microcredit.” For his work fighting poverty from the ground up in Bangladesh, Professor Yunus and the Grameen Bank he founded won the 2006 Nobel Peace Prize. Grameen America represents Yunus‟ current mission: to bring Grameen microcredit to the US, where the need for basic community banking for low-income families. On August 12, 2009 Yunus was awarded the 2009 Presidential Medal of Freedom – the highest civilian honor a US President can bestow – at the White House.
  4. 4. Progress and Milestones January 2008 – Grameen America begins lending in Jackson Heights, Queens November 2008 – Grameen America reaches $1 million is loans disbursed May 2009 – New branches are launched in Brooklyn and Upper Manhattan June 2009 – New branch launches in Omaha, Nebraska August 2009 – Grameen America issues 1,000th microloan August 2009 – Founder Muhammad Yunus is awarded the Presidential Medal of Freedom by President Barack Obama at a White House Ceremony November 2009 – Grameen America reaches 1,500 borrowers in the US November 2009 – A major New York Times photo-essay showcases the successes of six Grameen America borrowers January 2010 – Grameen America secures anchor funding from the Silicon Valley Bank to open in the San Francisco Bay Area February 2010 – Grameen America reaches 2,500 borrowers
  5. 5. Small loans change lives: Delia’s story Originally from Cuenca Ecuador, Delia came to the United States in search of better opportunities. She left behind her alcoholic husband and made the trip to the United States alone, sending her children to stay with their grandmother. Through working in factories, she was able to get by and send some money home to her family. Delia worked in factories for many years until one day a friend suggested that she start her own business. Lacking access to a bank or financial services, Delia took a loan from an informal money-lender to launch an ice- cream business. In the summer of 2008, she found herself struggling to keep the ice-cream business afloat. Hearing about Delia‟s situation, a friend told her about Grameen America and brought her to a center meeting in Queens. Delia liked what she saw, and she soon joined Grameen America and took her first loan to get her business back on track. Delia‟s first loan was $2,000 for a term of one year, to purchase a large freezer, ice cream flavors, and supplies. Each week she pays $44: $40 for capital, $4 for interest. After six months of timely repayment, Delia became eligible to apply for a loan advance of $1,100. With this advance, she was able to renew ther permit for her push-cart and keep her business afloat. Delia has opened a savings account and now makes a weekly savings deposit. She says she is happy running her own business, and being able to save earnings that would have otherwise gone toward paying extremely high interest rates. This fall she became eligible for her second loan, which she used to open another small business for the winter months.
  6. 6. Financial Overview - Disbursed over $5 million to more than 2,600 low income borrowers - Repayment rate greater than 99% - Borrowers have savings deposits of over $350,000 -100% of loans are to start or expand a small business - >650 average credit score* *For borrowers who had no adverse credit history before joining Grameen America
  7. 7. In the Media Grameen America Media Coverage: Highlights Media Outlet Media Category Date Title TIME Magazine Magazine 1/11/10 Can Microfinance Make it in America? New York Times, Sunday Business Section Newspaper 11/15/09 Microlending from Bangladesh to the Boroughs (Photo-Essay) Time Magazine Magazine 9/28/09 Issue 10 Questions for Muhammad Yunus Former President Bill Clinton highlights Grameen America‟s work in Part One of The Daily Show with Jon Stewart Television 9/17/09 an interview about the Clinton Global Initiative GOOD Magazine Magazine TBD Fall „09 Feature on Grameen America Micro-lender considers Charlotte branch; the NY-based nonprofit bank has won Charlotte Observer Newspaper 8/25/09 praise and awards for making small loans to poor entrepreneurs Omaha World Herald Newspaper 8/13/09 Small Loans, Big Impact Fox Business Television 8/13/09 Helping Communities through Microfinancing American Banker Newspaper 6/29/09 Microlenders Are Taking Macro View The World Magazine 6/20/09 Issue Recession-proof banking? BBC News Online 5/7/09 Small loans lead to big returns Nightly News with Brian Williams - NBC Television 4/30/09 Banker to the poor finds success making loans to the poor CNN – Campbell Brown: No Bias, No Bull Television 4/1/09 Power to Change featuring Muhammad Yunus and Grameen America Reuters.com Online Newspaper 4/26/09 "Banker to the poor" gives New York women a boost ABC Tiempo Television 2/15/09 Tiempo ABC News Television 2/13/09 Getting a loan when the bank says no CNN - Your Money Television 2/14/09 Poor People's Bank Thrives Charlotte News and Observer Newspaper 2/6/09 Nobelist bankers branching out
  8. 8. TIME Magazine January 11, 2010
  9. 9. Plans for the Future: Expansion and Sustainability Grameen America currently operates branches in New York City and Omaha, Nebraska. Over time, Grameen America intends to open branches in over 50 cities across the United States. Given the need for basic community banking, our goal is to serve one million low-income entrepreneurs, and have substantial impact on alleviating poverty in the United States. Other potential Grameen America locations Boston, MA Charlotte, NC Los Angeles, CA New Jersey San Francisco Bay Area, CA Washington, DC
  10. 10. For more information, contact: Katherine Rosenberg krosenberg@grameenamerica.com 212-735-4023
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