Grameen America Plans to Invest $40 Billion For Underserved Women of USA In Next Ten Years
On May 20, 2024, Grameen America Inc. (GAI), the fastest-growing nonprofit microfinance organization in the United States of America, announced the opening of its new branch in Phoenix, Arizona, with significant philanthropic support from the Wells Fargo Foundation. To expand access to affordable capital for women entrepreneurs, Wells Fargo made a $3.25 million grant over three years to help Grameen America expand its operations to Phoenix and advance the organization's technology and digital platforms.
With the funding from Wells Fargo, Grameen America estimates the new branch will disburse nearly $14 million in capital to over 2,000 low income women by the end of 2026. Since launch, the Phoenix branch has already disbursed over $327,000 in loan capital through microloans supporting mo...