Grameen Bank Los Angeles

Grameen America partners with Whole Foods Market.
About

Founded in 2008 by Nobel Peace Prize recipient Muhammad Yunus, Grameen America is dedicated to helping women who live in poverty build small businesses to create better lives for their families. It offers microloans (generally in the $500-$3,000 range) with no collateral, a savings program, and financial education with the goal of transforming communities and reducing poverty in the United States. 

As of October, 2013, Grameen America had 18,000 borrowers and has lent more than $100 million. Headquartered in New York City, there are branches in Los Angeles, Omaha, and Charotte, North Carolina.

Grameen America partnered with the California Community Foundation and its donors to bring Grameen America to Los Angeles. The first branch opened in Boyle Heights in January, 2013. Click here to read an article from the California Community Foundation's newsletter, Giving in LA, titled "Microfinance in Boyle Heights: Lifting Women out of Poverty."

 

 

See Also: 
California Institute for Social Business, CSU-Channel Islands
Details

Established: 
2008 in New York
2012 in Los Angeles

Leader:
Stephen A. Vogel
Chief Executive Officer

Syed Tofazzel Hossain
Los Angeles Branch Manager

Location:
Boyle Heights

# of employees:
1-25

Model:
Triple bottom line

Photos 
Tomasa is a member from Los Angeles. She recruited four of her friends to establish the first Grameen America group in the city. She recently started selling cosmetics and plans to increase her available supplies with the Grameen America loan. Currently, Tomasa travels by bus to her clients while her four children are at school. She plans to grow her business with the hopes of buying a car by the end of 2013.