By Nancy Dahlberg
The Miami Herald
WWR Article Summary (tl;dr) “Grameen America” facilitates micro loans to women to help them start businesses, as well as training and support. Miami will be the 12th city location in the “Grameen America network” that started in 2008.
The Miami Herald
With Nobel Laureate Muhammad Yunus, the father of micro-financing and world-renowned champion of poverty alleviation and social entrepreneurship, by her side, the CEO of Grameen America announced Monday evening that the micro-lending organization for women would be bringing its services by the end of the year to Miami-Dade County, an area with one of the highest poverty rates in the nation.
Grameen America facilitates micro loans to women to help them start businesses, as well as training and support.
Miami will be the 12th city location in the Grameen America network that started in 2008, and over the next several years the organization will likely be adding several more branches in the area, said Andrea Jung, CEO of the network. The New York City area, for instance, has seven branches.
She said in a few years’ time, 4,000 to 5,000 women who have been shut off from traditional networks of financing, can be helped. Grameen America also has a credit score program that has helped women go from no or very low scores to 650 scores or higher in 26 weeks, she said.
Yunus and Jung took part in a discussion with an entrepreneurs’ group in Brickell before they headed to Books & Books in Coral Gables, where the 77-year-old social entrepreneur would be discussing his new book, “A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions.”
Yunus pioneered the micro-credit concept that uses small loans made at affordable interest rates to transform the lives of impoverished women. He is the founder of the Grameen Bank in Bangladesh, and Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize in 2006.