Wells Fargo Provides $7 Million to Grameen America

Thu, 2016-02-11 11:10

Wells Fargo & Company announced today it has provided $7 million to Grameen America to support microloans for women entrepreneurs. The $1 million equity equivalent investment and $6 million senior debt facility, which act as revolving funds, are estimated to yield over a three-year period an additional $42 million in loans for start-ups and expansions to more than 10,000 low-income women entrepreneurs. 

"With the right tools and support, women across the country are becoming engines of economic growth," said Andrea Jung, president and CEO of Grameen America. "We are fortunate to have Wells Fargo's support as we empower women entrepreneurs through access to capital, savings and credit-building." 

Read the press release here. 

Alma, a Grameen America borrower in Manhattan, prepares food for her successful food truck business. 

Tweet With Us

Recent Stories

Grameen America is the fastest-growing microfinance organization in the United States. To keep up with our rapid growth and provide the best services... read more
7.jpg Irene has had Eli & Eli Carpet in Queens, New York City, for 15 years now, and the store has nearly reached... read more
debit card pic.JPG Grameen America is quickly advancing the technology we use for our loan transactions, benefiting... read more