Alecia's Story

September 19, 2011 | 1:25 PM

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Alecia was recently invited by a couple of her closet peers to join their Grameen America group. Alecia runs a small business selling Jaffra cosmetic products on the local streets. When Alecia is not running her business she cares for her ten grandchildren, for whom she babysits every day. Alecia would like to take out a loan to buy more inventory to grow the business. She currently sells to about sixty clients a month and with the loan, looks to reach 100 clients.

Alecia has never opened a bank account before, despite her repeat attempts year after year. She also does not own any credit cards because the potential fees were too daunting. Alecia explained that she knew how important it is to have a credit history, but due to high fees, she has never had the opportunity to build hers. While Alecia was not currently saving any money before joining Grameen America, she is now learning the importance of saving and is looking forward to the day when she can finally take her first vacation with the money. After attending her first group meeting, Alecia says she can’t believe how successful the businesses of her fellow group members have become and says she’s going to tell everyone she knows about Grameen!

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