Andrea Jung Speaks to Lend Academy about the Grameen America Model
President and CEO of Grameen America, Andrea Jung, spoke with Peter Renton of Lend Academy about the Grameen America model and how we work to support women’s entrepreneurship and financial inclusion across the United States. By joining Grameen America, a woman gains access to capital and comprehensive financial training. For women living in poverty, a community that is often unbanked, these financial tools are essential. Andrea also outlines the core values of the Grameen model, which include the use of social capital and group lending in order to further drive collaboration and mentorship among women entrepreneurs.
In the podcast, Andrea and Peter also speak about the discipline that is integral to the success of the Grameen America model. Each week, members are required to attend meetings with peer entrepreneurs and participate in financial training and other peer support activities. In its nine years, Grameen America has disbursed over $620 million in loan capital to low-income women entrepreneurs – all while maintaining a 99% repayment rate.
“That sense of social belonging, camaraderie and mentorship is really the glue that takes the percentage of underwriting versus relationship and flips it upside down. We spend less time on the underwriting and all of our time on the relationship.”
To hear the full podcast, or a copy of the transcript, click here.