Friday, March 28th, 2008 - 7:00PM at The Hollywood Hill Event Center, Hollywood
Grameen America is a microfinance company whose mission is to help alleviate poverty through entrepreneurship by providing loans, savings programs, credit establishment, and other services to the working poor in the United States. Grameen America is built upon the success of the Grameen Bank of Bangladesh. Founded by Professor Muhammad Yunus, the Grameen Bank is the most widely recognized microfinance company in the world. This success earned both Professor Yunus and the Grameen Bank the Nobel Peace Prize in 2006. Grameen America has been created so that people with limited or no access to credit can use entrepreneurship and self-employment, proven means in the United States, for increasing wealth and escaping poverty. The poor are frequently prevented from pursuing entrepreneurship opportunities because mainstream banks will not make loans to people who lack minimum credit scores and collateral. These "unbanked" individuals typically have limited experience in understanding financial institutions, getting loans, building savings and managing credit. While conventional banks turn away these borrowers, the success of high-interest rate predatory lenders (often charging over 300-400% APR) such as payday loan corporations, pawnshops, and check cashers has shown that the unbanked constitute a highly valuable customer base. Grameen America provides an alternative for these borrowers. Grameen America provides banking for the unbanked.