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Grameen America
Non-profit microfinance institution. It was founded in 2006 by Nobel Peace Prize winner Mohammad Yunus. Andrea Jung, former chairman and CEO of Avon, manages Rural America. The organization focuses on lending, savings systems, financial education, and microfinance for poor women in the United States. Of course, loans have to be used to build small businesses. There are four main things about rural America.
Micro loan. The maximum loan amount for the first time is $ 1,500. However, by repaying the initial loan, they can borrow more money.
ÒSaving program. Rural America does not charge a fee, does not require a certain amount of money to be deposited as savings, unlike commercial partnership banks.
Establishment of deposit. grameen America supports helps build members credit by reporting loan repayments directly to Experian.
Financial education. Grameen America provides 5 days of initial training to encourage team members and meets with members once a week.
Loans from rural America are used to start income-generating businesses or grow businesses. Common businesses include grocery stores, flower baskets, tailors, jewelry, crafts and saloons
