AN EQUITABLE PATH FORWARD
ANNUAL REPORT 2021
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
"THROUGH THE GRAMEEN AMERICA PROGRAM, I HAVE MADE FRIENDS, MADE NEW PEOPLE, AND LEARNED FROM OTHER BUSINESS OWNERS."
HEATHER
HARLEM, NY
In the most rigorous, independent, third-party evaluation of microfinance in the United States to date, top-tier research organization MDRC is assessing Grameen America’s program in Union City, New Jersey. MDRC used a randomized controlled trial design—the gold standard of research methods that uses the same rigorous methods as pharmaceutical trials. While there have been several evaluations of international microfinance programs, few robust studies, and no randomized controlled trials, have been conducted of U.S. microfinance programs—until now.
THE FIRST-EVER RANDOMIZED CONTROLLED TRIAL OF MICROFINANCE IN THE U.S.
ANNUAL REPORT 2021
AN
EQUITABLE
PATH
FORWARD
BOLDLY LEADING THE FUTURE OF A MORE INCLUSIVE AMERICA
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
As we reach the conclusion of the Lifting America campaign, we are grateful to our partners, donors, and lenders whose support has accelerated our growth and scale.
Through the support of our major partners, we raised $96 million in philanthropic grants and donations, nearly achieving our ambitious $100 million campaign goal. Together we will continue to scale our program to lift more underserved communities nationwide.
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
Grameen America is dedicated to helping entrepreneurial women who live in poverty build businesses to enable financial mobility.
A YEAR OF BREAKTHROUGH GROWTH
2021 was a year marked by several remarkable organizational milestones. Our achievements are a testament to our members’ determination, hard work, and resilience to build a better future for their families and communities
Celebrating a Milestone of Investing over $2 Billion
in Microloans to Microentrepreneurs
In 2021, Grameen America expanded to serve new communities in Chicago, IL, Trenton-Camden, NJ, Connecticut, Memphis, TN, San Antonio and Dallas, TX. Our work in underserved communities means all women, regardless of race or income, have access to fair and affordable financial services.
Opened a Record Six New Branches in One Year
In May 2021, Grameen America launched the Elevating Black Women Entrepreneurs initiative, which offers capital, financial training, and asset and credit building tools to women in predominantly Black communities. The initiative aims to invest $1.3 billion in loans to 80,000 women entrepreneurs over the next ten years.
Accelerated Efforts to Achieve Racial Equity
ANNUAL REPORT 2021
OUR VISION
Grameen America envisions an inclusive society in which all entrepreneurs, regardless of gender, race, or income, have access to fair and affordable financial services to support upword economic mobility.
Watch Our Big Announcement on Good Morning America
"If you have a dream, go for it because if it's in your heart and if it's in your spirit, it will flourish. It must flourish."
Alesia Event Business Owner in Newark, NJ
Alesia (left) pictured with daughter, Brandy, and grandchild.
ANNUAL REPORT 2018
HER
SUCCESS
LIFTS
AMERICA
MEET LETICIA
Leticia, a restaurant owner in Union City, New Jersey, shares her entrepreneurial journey.
First-of-its-kind study determines Grameen America’s micro-lending program reduces material hardship and increases creditworthiness, business ownership and earnings among women in poverty. It marks the first time a microfinance institution in the United States has been evaluated using a randomized controlled trial, the gold standard of evaluations.
36-Month Impact Snapshot
"Small loans helped me expand my business little by little. I am proof that with a little help anyone can succeed."
Angelita Hair Salon Owner in Union City, NJ
"
Grameen America’s sustained impact three years after women first joined the program is remarkable. These kinds of results happen because of careful design choices and constant attention to implementation on the ground. The program has a clear focus on an underserved group that does not have other financial alternatives in their communities — women entrepreneurs with low incomes — and is intentional about working with them over an extended time.
Virginia Knox, President, MDRC
New Study Affirms Grameen America's Efficacy in Advancing Financial Inclusion
99%
REPAYMENT RATE
722,000
TOTAL LOANS
23
U.S. CITIES
136,700
WOMEN SERVED
$2.26 Billion
TOTAL DISBURSED
IT'S
MORE
THAN
A LOAN
ACCELERATING THE AMERICAN DREAM
29
BRANCHES
TOTAL DISBURSED
$1.76B
OUR IMPACT
"I had always worked for other people, and now I get to be my own boss. I get to determine my own schedule and it's incredibly freeing."
Alfa Beauty Salon Owner in Miami, FL
In partnership with our sister organization, Grameen PrimaCare, the Promotoras program aims to overcome barriers low-income women face in accessing affordable healthcare. The program, which first piloted in The Bronx in 2016, seeks to improve health outcomes and well-being for Grameen America members by increasing access to healthcare and education in a non-clinical setting.
Improving Her Access to Healthcare
In 2017, Grameen America completed a three-year technology transformation project to migrate all systems to tablet-accessible cloud applications, go cashless and paperless, and digitize disbursements and repayments. In 2022, the organization is undertaking two new large-scale innovation projects, including a multi-functional mobile application and a new data and analytics platform, to enhance technology services for members and staff.
Expanding Technology Innovation
PROGRAM INNOVATIONS
OUR COMMUNITIES
Our Future Cities
In 2022, we aim to open six new branches in underserved communities across the country, including in Atlanta, GA, Phoenix, AZ, Riverside, CA, Philadelphia, PA, and a second location in Charlotte, NC and Miami, FL.
2021 New Cities
$1M
Empowers 3,000 women and creates nearly 1,000 new businesses.
Branches Across the Country
53
13%
600,000
Women Entrepreneurs Served
$14 Billion
Loan Capital Invested in Women
Celebrating Our Success
By 2030, We Aim to Reach the Following Milestones
"For someone like me, I didn't grow up with financial literacy. Grameen America gives me the encouragement I need to grow."
Shanté Jewelry Business Owner in Newark, NJ
In 2019, Grameen America launched a $100 million philanthropic campaign to help realize our strategic goals over the next 10 years. Lifting America: The Campaign for Her Future has since enabled us to scale our program nationally and provide access to financial services to all women, regardless of their race or income.
FINANCIAL HIGHLIGHT
"I always wanted to be my own boss. Thanks to Grameen America, women have the power to help each other."
Arelis Clothing Store Owner in Miami, FL
BOLDLY LEADING THE FUTURE OF A MORE INCLUSIVE AMERICA