Q2 2019 QUARTERLY Q3 2019 REPORT QUARTERLY LIFTING REPORT NEW YORK LIFTING

BLANCA CLOTHING STORE

OWNER -

grameenamerica.org Lifting Los Angeles Grameen America is the fastest growing nonprofit microfinance organization in the United States with a proven national solution to advance financial inclusion for women. We provide small loans, training and support to low-income women to help them build businesses, achieve higher family incomes and revitalize their communities.

OUR MISSION

Grameen America is dedicated to helping entrepreneurial women who live in poverty build businesses to enable financial mobility. NATIONAL IMPACT OUR SERVICES

Grameen America provides microloans (ranging from 99% Repayment Rate $2,000 to $15,000), financial training and support to members. As part of our program, members open free savings accounts with commercial banks and make 15 U.S. Cities weekly deposits. We also report microloan repayments to Experian and Equifax, enabling our members to build their financial identity. 503,000 Total Loans

WHO WE SERVE 131,000 Jobs Created or Maintained

Our target population is women who live below 124,000 Women Served the federal poverty line for whom the mainstream financial system is currently out of reach. Our members are women who previously had few options $1.32 Billion Loans Disbursed for accessing capital and most lacked bank accounts and credit scores.

OUR MODEL Groups attend weekly meetings with Members are eligible for larger loans to grow Group of five Members open a Grameen America field officers to make their business, build their financial identity, women forms savings account repayments and receive training and receive additional support

JOINING GRAMEEN AMERICA FIRST LOAN CYCLE ONGOING

Group undergoes five Each woman receives a Each woman repays loans in full days of financial training microloan to build a small by the end of a six month term business

Q3 2019 QUARTERLY REPORT 1 GEOGRAPHY HIGHLIGHT EXPANDING OUR REACH IN

In September, we celebrated with Grameen America Pictured Chair, Nobel Peace Prize Laureate and Andrea Jung, Professor Founder as we deepened our impact in California with two new branch openings. Muhammad Yunus, and Nandita Bakhshi (President The new branches located in Long Beach and Fresno & CEO, Bank Of The West) follow our established locations in California in Los Angeles, Oakland and San Jose, and will see the at Grameen America branch organization’s branch portfolio reach 23 locations in opening in Fresno 15 U.S. cities.

According to the Census Bureau, California has the highest poverty rate in the country. As low-income

Q3 2019 QUARTERLY REPORT 2 women continue to be excluded from the financial mainstream, our expansion in California aims to deepen our impact and address this inequity.

In 2012, Grameen America opened our first branch in California in Oakland. Over this time, we have served over 22,000 women and disbursed more than $192.3 million in loans in the state.

We are focused on broadening our geographic footprint, with the goal to serve women entrepreneurs Pictured in Chicago and Connecticut, while expanding our Mindee Barham, Andrea footprint in Los Angeles and Texas. We aim to scale our operations to 40 branches across the country over the Jung, Dominic Ng next decade. (Chairman, President & CEO, East West Bank) These forthcoming branches are a central part of Grameen America’s campaign, Lifting America: The Professor Muhammad Campaign for Her Future. Through philanthropy and Yunus, and David Gough debt capital, the campaign aims to raise $300 million at Grameen America branch over five years to scale Grameen America’s national growth. opening in Long Beach

Q3 2019 QUARTERLY REPORT 3 PROGRAM HIGHLIGHT BUSINESS EXPANSION LOANS

GUADALUPE RESTAURANT OWNER

As part of our commitment to enhance and To be eligible for the Business Expansion Loan, expand our products and services to empower members must have had direct involvement women entrepreneurs, the new Grameen America with their business for two years, have a strong Business Expansion Loan was created to assist repayment record, possess savings and a business- our most advanced members to scale their relevant license, as well as commit to completing a microenterprises to larger businesses. business training course over a one year period.

Starting at $10,000 over a six-month cycle, the “Many members accepted for the Business Business Expansion Loan offers qualified members Expansion Loan have been with Grameen America access to larger loans to continue to expand, build for nearly a decade, and with greater loans will be and formalize their businesses. better equipped to embark on their next phase of growth,” said Alethia Mendez, Vice President,

Q3 2019 QUARTERLY REPORT 4 Operations and Program Strategy. “Many of these “GRAMEEN AMERICA ABSOLUTELY members will now be ready to open a second CHANGED MY LIFE. THERE ARE location or hire additional employees from their communities.” MOMENTS WHEN I THINK ABOUT SOMETHING I WANT TO ADD TO Business Expansion Loan recipients like Guadalupe THE BUSINESS AND IT GIVES ME A demonstrate the need for loans at this level. Since WAY TO DO IT,” SAID GUADALUPE. joining Grameen America in 2013, Guadalupe opened her own Mexican restaurant and now has The creation of the Business Expansion Loan eight employees. Guadalupe has taken out over advances Grameen America’s mission to reduce $80,000 in microloans and has used the capital to barriers to entrepreneurship for low-income pay for gas and electricity bills at the restaurant, women, and supports small business growth among purchase inventory and maintain her employees’ underserved communities. At present, the Grameen wages. America Business Expansion Loan is available at the Jackson Heights and branches, with the With the capital to finally become a self-sufficient goal to expand to additional locations in the future. entrepreneur, Guadalupe runs her business by the motto of “we sell, we buy,” and the loans from Grameen America allow her to continue this profitable model.

Q3 2019 QUARTERLY REPORT 5 PROGRAM GROWTH IN LOS ANGELES

12,577 + 663 WOMEN SERVED NEW MEMBERS IN Q3

14,000

12,000

10,000

8,000

6,000

4,000

2,000

0 2013 2014 2015 2016 2017 2018 2019 (to date)

$94,066,000 + $8,891,000 LOANS DISBURSED NEW INVESTMENT IN Q3

$100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 2013 2014 2015 2016 2017 2018 2019 (to date)

Q3 2019 QUARTERLY REPORT 6 PROGRAM GROWTH IN LOS ANGELES

99% 46,577 $9,222,000 REPAYMENT RATE TOTAL LOANS DISBURSED OUTSTANDING LOAN PORTFOLIO

$2,900 13,205 AVERAGE LOAN SIZE TOTAL JOBS CREATED OR MAINTAINED

Pro bono revenue and expenses excluded.

$1,200 $1,513

Q2Q3 2019 QUARTERLY REPORT 47 MEMBER HIGHLIGHT MEET MARIA

Maria started selling traditional Mexican food out and she cooked and sold food on the side. She was of her house on the weekend. Her home quickly in the unenviable financial state of having to ask became a popular destination to eat in her Los her friends and neighbors for money, which she Angeles community, with lines often leading out the paid back plus interest. Her ability to pay her rent door. and buy groceries was compromised, and she knew something needed to shift. When Maria discovered that a local restaurant was going out of business, she was eager to seize upon Once she became a member of Grameen America, the opportunity. With the owner’s support, Maria Maria purchased a freezer and chairs for her arranged to rent the space, with the option of restaurant. With her most recent loan of $5,500, purchasing the restaurant once her business became she used the capital to repair the restaurant’s profitable. roof. Without access to these loans, Maria would have been significantly limited in making these Before opening her restaurant, Maria was focused improvements to her business. Now, Maria employs on selling clothing and accessories out of her home, fourteen staff at her restaurant including cooks, servers and busboys. Q3 2019 QUARTERLY REPORT 8 The support that Maria has gained from other interacting with my customers. I love getting to know women entrepreneurs at her Grameen America the regulars who come into my restaurant.” center meetings has been invaluable, and through the duration of the program, she has also seen her In the future, Maria wants to continue to attract more credit score improve. customers to her restaurant.

“BEFORE GRAMEEN AMERICA, “I WOULD TELL ANY WOMEN I WAS WORKING LONG HOURS WANTING TO START THEIR OWN AND I DREAMED ABOUT HAVING BUSINESSESS TO NOT BE AFRIAD. A BETTER LIFE. BEING IN THE IT’S HARD WORK BUT IT’S VERY PROGRAM HAS GIVEN ME MORE REWARDING TO BE INDEPENDENT.” FREE TIME AND THE FLEXIBILITY TO BE WITH MY FAMILY.”

Maria is the mother of six children. She learned how to cook from her mom. The most popular dishes at her restaurant are carnitas, mole, burritos and menudo which reflect the diversity of food from her home country, Mexico.

“The thing I enjoy most about my business is

Q3 2019 QUARTERLY REPORT 9