Tailoring the Member Experience
Grameen America recognizes that Black women entrepreneurs are on a different financial and business journey than other women of color. In partnership with BCG, Grameen America set out to understand the unique needs and challenges Black women entrepreneurs face and develop solutions to connect Black women entrepreneurs to affordable business capital.
BCG conducted two surveys to assess gaps in Grameen America’s current model, which revealed three important findings:
• Black women entrepreneurs are more likely to have lower credit ratings and/or pre-existing debt such as credit cards and student loans.
• Grameen America’s Black members had relatively more sophisticated business models than its existing member base and could benefit from the guidance of more experienced staff to deliver top-tier customer service, professionalism, and financial education.
• To accelerate growth in predominantly Black communities, engagement with local Black partner organizations would enhance trust, improve recruitment, and increase member retention.