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Grameen America Raises $17.5 Million for Second Microfinance Fund
Source: Impact Alpha
Grameen America, the U.S. affiliate of Muhammad Yunus’ Grameen Bank, has been providing low-income women business owners with access to capital since 2008.
The nonprofit’s new $17.5 million impact fund will specifically focus on supporting underserved women business owners impacted by COVID. The five-year fund is aiming to provide up to $200 million in loans by recycling the capital and reinvesting 50% of returns for new loans.
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