Grameen America CEO, Stephen Vogel, discusses the global movement towards microlending on FoxNews.com Live

September 28, 2011

On Monday, we celebrated Grameen America's sixth branch opening.

We were elated to have Professor Yunus join us for the ribbon cutting ceremony in the Bronx. As he told the audience of borrowers and supporters, "today is not just opening a branch, it's opening a future."

You can catalyze the success of our new Bronx branch by helping us raise $7,500, enough for five loans. With your support, we can help make a brighter future for a new borrower today, a future where, as Professor Yunus says, “all impossibles are possible.”

Many thanks to CitiBank for supporting the event and helping our borrowers build savings.
Click HERE to donate and be sure to note “Bronx” in the comments.

Check out more photos on our FACEBOOK page.

In case you missed any of the press coverage, take a look below:

Non-profit Gives Microloans to Low-Income Americans
Morning Joe, MSNBC
September 26, 2011

The Big Save
The Economist
September 24, 2011

International Microlender Opens New New York Branch
ABC News
September 26, 2011

We are thrilled to announce that next week is our second annual Grameen America Week.

Save the dates!

Grameen America Week is a celebration of our third successful year of providing microfinance services to low-income entrepreneurs in the United States. For the week of September 20th-24th we will be hosting a number of events and kicking off several exciting new campaigns.

On Monday, September 20th, in honor of Grameen America Week and Whole Foods 30th anniversary, we are going to be partnering with them at each of their six Manhattan stores. The Grameen America staff will be on hand to serve up inexpensive Ice-Cream Sundaes. 100% of the proceeds will go to providing microloans for low-income entrepreneurs. Stop and chat with the Grameen America staff and make sure to get an Ice-Cream Sundae for microloans!

On Thursday, September 23rd, we will host a webinar for supporters around the world with an informational session conducted live from the headquarters of Grameen America, New York City. Register now!

Beginning this week we are also running a texting campaign called Text “America.” It’s easy, just text 85944 and donate $10 to Grameen America. The aim of this campaign is to raise $7,500, enough to form a group of 5 borrowers, five first time loans of $1,500 each. We think this is a great way for each donor to become a microlender and discover the power that a small donation can have in the lives of our borrowers. Please help us by donating and by telling your friends and family about the program.

Grameen America week also marks the launch of Grameen U, a program that enlists student representatives from universities across the country who are interested in microfinance to help a growing Microfinance Institution. We hope this is just the beginning of our involvement with students in North America. During Grameen America Week, schools participating in Grameen U will be hosting events to commemorate this special occasion.

We will be updating the blog throughout the week with updates from of all these great events. We hope to see you there!

"Poverty exists because we've built our philosophical framework on assumptions that underestimate human capacities (...). Let's dedicate ourselves to bringing an end to it at the earliest possible date, and putting poverty in the museums once and for all."
- Muhammad Yunus

Grameen America was featured in Monday’s edition of Newsweek magazine. It’s a great article which details the success of Grameen America’s micro-lending program during the last few years. It highlights how Grameen America has found a way to give low-income entrepreneurs a chance to have a business of their own amidst the hardships of the economic crisis. It also includes a few short stories of our borrowers. Please check it out by clicking here and let us know what you think!

Written by Ashley Seil...

It was an exciting day in the Grameen America Queens branch when NY1, one of the largest news stations in New York City, stopped by to interview branch leaders. Rain came down hard outside as the reporter sat down with Shaw Newaz, branch manager, to discuss what Grameen America has been up to in Jackson Heights, Queens.

Among the many questions that were asked, one touched on the differences between women in Bangladesh and women in New York City, and how these differences affect the success of the Group Lending Model that is associated with the Grameen name. Mr. Newaz, coming from over two decades of experience with the model, stressed the similarities rather than the differences that exist cross culturally between women. The success of the group lending model across many countries of the world is a testament not only to the success of Grameen’s strategy, but also to the idea that there is much universality that exists across cultures today. And while it is important to recognize what makes each culture unique, it is just as important to recognize those similarities that bring individuals from such diverse backgrounds together as one. Grameen America believes that one of these universal similarities is the wish we all have to eliminate poverty worldwide.

After their interview with Mr. Newaz, NY1 headed over to Beauty Nails by Magic R.T., where they interviewed Donaldo Torrenegra, Grameen America Center Manager, and Nellie, who runs her own nail salon with the help of her Grameen America loan. Nellie contributes much of the success of her salon to the opportunity that was given to her by the Grameen America loan. Nellie is a wife and mother to two children and the loan has helped grow her business and provide extra financial support for her family of four.

Grameen America appreciates NY1 and their dedication to spreading the word about microfinance in the New York City area!

See the clip online!