Entrepreneurs have the innovative ideas that can change the market they are in, but before they can launch they need some start up cash.
The Grameen Bank made its name by offering loans of $1,500 to impoverished female entrepreneurs in the developing world.
In the last six years, more than 28,000 women have received micro loans from Grameen America totaling over $150 million. This organization has now opened its first U.S. training institute in Queens, N.Y., which it will use to reach even more women across the country.
This new center hopes to empower women and help them achieve financial security.
There is a great community out reach for women as financial managers who give women financial training to open bank accounts (for many, it’s their first), establish credit and launch businesses. All women who receive micro loans from Grameen are living below the poverty line, and many are single moms working dead-end or unsustainable jobs. The new institute could help as many as 80,000 women a year launch their own small businesses and improve their financial situation.
Picture by ventureneer.com