Themicroloanfoundation's Blog

Microfinance comes to America
June 4, 2010, 11:01 am
Filed under: Uncategorized

From: Microcapital Brief

Muhammed Yunus recently opened the Manhattan Branch of Grameen America. Grameen America, a clone of his Yunus’ Grameen operations in Bangladesh. Grameen America now totals four branches in: Queens, Brooklyn, Omaha and Manhattan. $5mil USD has been distributed to about 2,000 borrowers. GA boasts a 99% repayment rate as well.

While it is too early to gauge the success of GA, it’s encouraging to see models of poverty reduction developed in the global south make their way to the north after having seen half a century of the reverse.


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