Partnering to Scale Microlending & Empower Low-Income Women in the U.S.
In 2006, Grameen Bank founder Muhammad Yunus was awarded the Nobel Peace Prize for pioneering a way to provide banking services to the rural poor in his native country of Bangladesh. Grameen Bank created a microfinance organization and community development bank to make small loans without requiring collateral. Grameen America, launched in 2008, has now served over $700 million in loans to over 90,000 women in poverty using a similar model. Through the partnership with PayNearMe, a brand of Handle Financial, Grameen America has enabled their loan recipients to spend more time growing their businesses and less time repaying their loans. In this session, the chief executives of both companies will discuss how they formed their partnership, the elements that have made it successful and key characteristics to look for in a prospective partner.