Grameen America reports $8 billion in loans to 291,602 businesses
The nonprofit, which partners with National Ambassador Jennifer Lopez, aims to deploy $40 billion in capital over the next 10 years.
Grameen America has reported cumulative lending of approximately $8 billion, reaching 291,602 small businesses. The organisation provides capital, financial education, and peer networks to women living below the federal poverty line.
Jennifer Lopez became the National Ambassador for the nonprofit in 2022. The partnership aims to support Latina business owners who have lacked access to traditional financial services and to promote financial literacy.
The organisation has provided more than $5 billion in affordable capital to over 230,000 entrepreneurs across 29 U.S. cities. Members also receive training and have loan payments reported to credit bureaus to help build financial identities.
Grameen America plans to reach 750,000 entrepreneurs over the next decade and deploy $40 billion in loan capital. To support this, the nonprofit will launch a five-year campaign involving $600 million in new fundraising.
This fundraising, combined with internal funds, is expected to help finance an estimated $1 billion investment to grow the programme. The goal is to assist families in building generational wealth through small business ownership.
