About Us
Story
In the United States, a staggering 15% of Black women and 30% of low-income individuals are credit invisible.
Black women entrepreneurs are 20% less likely to fund their businesses with bank business loans and more likely to rely on expensive personal credit cards and personal and family savings.
Black women were among the fastest-growing demographic of entrepreneurs before COVID-19, representing 42% of new women-owned businesses—three times their share of the female population.
Grameen America’s Elevate initiative aims to meaningfully address systemic barriers and funding gaps that women in financially underserved Black communities face. Launched in May 2021, the Elevate initiative aims to accelerate Grameen America’s commitment to racial equity.
The Elevate initiative offers affordable loan capital, business development training, and asset- and credit-building tools to impact and improve emerging Black businesswomen’s income, credit scores, and personal savings. Strengthening financial inclusion for Black women significantly improves credit establishment, income opportunities, and job creation, in turn bringing economic mobility to families and entire communities.
The Elevate initiative currently brings affordable capital to Black businesswomen in New York, NY, Newark, NJ, Memphis, TN, and Atlanta, GA with plans to expand nationally over the next decade.
What is Grameen America?
Grameen America is the fastest-growing nonprofit microfinance organization in the United States with a proven national solution to advance financial inclusion for women of color. We provide loan capital, a sisterhood and network of support, and asset-building opportunities alongside business development services.
Our Vision
The Elevating Black Women Entrepreneurs initiative was developed for Black women, to provide members with personalized guidance, peer mentorship, and capital to support businesses from start to finish.
Our Dream
We envision an inclusive society in which all entrepreneurs, regardless of gender, race, or income, have access to fair and affordable financial services to build generational wealth.
Our Goal
In the next 10 years, we plan to reach over 80,000 Black women entrepreneurs, investing $1.3 billion in their small businesses.
