Meet Emerita

With a dream of building a business to support her family and a first-time loan of $1,000 from Grameen America, Emerita launched a home-based salon. Over time, Emerita continued to grow and save, reaching the milestone of owning her own local salon. 

“Grameen America gave me the biggest opportunity to pursue my dream and realize that anything is possible.” 

When Emerita became a mother, she decided to start a business that would offer a flexible schedule to take care of her daughter and build something of her own. Inspired by her mother and aunts who were hair stylists, Emerita pursued her passion for hair and dreamed of starting a salon business from her home in Boston, MA.

“All you need to start a business is a small amount, but I didn’t have any opportunities to access even $500 in loans. I joined Grameen America with a first-time loan of $1,000, which was a lot for me at the time, and helped me purchase a full salon station.”

For Emerita, accessing loan capital without high interest rates felt out of reach until a neighbor recommended Grameen America to her. In 2016, Emerita received a first-time loan of $1,000 from Grameen America, making it possible to launch her business. Through Grameen America’s group-lending model, Emerita formed a group of five fellow entrepreneurs in her community. Each week, these entrepreneurs meet to make loan repayments, gain financial education, and support each other’s goals.

“The group of entrepreneurs that I started with in 2016 are still together. We have sold products to one another and supported each other with advice and encouragement throughout the years.” 

As Emerita’s business grew, she wanted to take her business to the next level. Emerita moved her home-based business to a nearby salon. Three years ago, she took over the entire salon, further expanding her business. Since then, Emerita has hired three employees and hopes to grow that number.

“Being part of Grameen America’s program helped me grow my credit to purchase a new car. The additional capital has given me financial stability to get through slow business periods and challenging times.” 

Emerita’s experience highlights how critical access to credit is for small business owners in underserved communities, where 30% of residents are credit invisible and only 59% of households have credit cards. With her new financial stability, Emerita hopes to renovate the salon, expand beyond hair services, and create more jobs in her community, possibly providing opportunities for her children in the future.

“My children motivate me every day and I hope to provide jobs for them one day. Owning my own business gives me a flexible schedule to set my own hours, supports my family, and helps other families in the community through new jobs. One of my biggest dreams is to help other entrepreneurs grow and serve my community.”

Since 2016, Grameen America has invested $178,000 in loans in Emerita’s business. This investment has helped Emerita build a thriving business that supports her family, provides jobs, and strengthens her community.