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Suntrust Foundation Awards Grant to Grameen America

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Suntrust Foundation Awards Grant to Grameen America News Release For Immediate Release: Dec. 2, 2019 Media Contacts Grameen America [email protected] Audria Belton SunTrust Foundation [email protected] 404.813.3664 SunTrust Foundation Awards $214,000 Grant to Grameen America to Empower Charlotte’s Women Entrepreneurs ATLANTA, Dec. 2, 2019 – The SunTrust Foundation today announced it has awarded a $214,000 grant to Grameen America, a national, nonprofit, microfinance organization that helps low-income women entrepreneurs access capital to build small businesses. The grant will go toward Grameen America’s branch in Charlotte, North Carolina, and will support its microloan program, financial training and peer support to low-income women entrepreneurs in Concord and Monroe, North Carolina. For over two years, the SunTrust Foundation has partnered with Grameen America and has contributed $250,000 toward 30,000 hours of financial education for low-income women in the region. With the SunTrust Foundation’s continued support, Grameen America anticipates it will be able to reach a total of 9,900 women in greater Charlotte by 2020. “The SunTrust Foundation is committed to partnering with organizations that empower communities through small business development and entrepreneurship,” said Stan Little, president of the SunTrust Foundation. “We’re proud to support Grameen America and help women across Charlotte attain success and reach their goals through financial education.” Grameen America provides affordable capital, credit building, financial education and peer support to empower its program members to open small businesses, which boost their income and help them enter the mainstream financial system. Grameen America has provided more than $1.3 billion in loan capital and served over 124,000 low-income women entrepreneurs across the country since 2008. Grameen America’s members have a high loan repayment rate, and through their diligence, they are helping to transform the lives of their families and communities across the United States. “Together, through the SunTrust Foundation’s ongoing partnership and investment in our program, we have supported low-income communities’ access to microloans and financial education in Charlotte,” said Andrea Jung, president and CEO of Grameen America. “Our shared commitment to financial inclusion ensures women entrepreneurs in the region have access to the economic opportunities to become successful businesswomen in their own right.” About Grameen America Founded by Nobel Peace Prize laureate Muhammad Yunus, Grameen America is a 501(c)(3) nonprofit microfinance organization dedicated to helping entrepreneurial women who live in poverty build small businesses to enable financial mobility. The organization offers microloans, training, and support to transform communities and fight poverty in the United States. Since opening in January 2008, Grameen America has invested over $1.3 billion in nearly 125,000 low-income women entrepreneurs. Started in Jackson Heights, Queens, Grameen America has expanded to 23 locations in New York City, NY, Austin, TX, Boston, MA, Charlotte, NC, Fresno, CA, Indianapolis, IN, Los Angeles, CA, Newark, NJ, Omaha, NE, Oakland, CA, San Jose, CA, San Juan, PR, Union City, NJ, Miami, FL, and Houston, TX. Learn more at www.grameenamerica.org. About SunTrust Foundation The SunTrust Foundation is committed to SunTrust Bank’s (NYSE: STI) purpose of Lighting the Way to Financial Well-Being by engaging with local and national organizations to advance financial confidence. Grants and activities focus primarily on financial education, financial counseling, career readiness and small business/entrepreneurship, in addition to local community grants. The SunTrust Foundation supports American Red Cross disaster relief efforts and contributes as a United Way Global Corporate Leader. Established in 2008, the SunTrust Foundation has proudly provided grants totaling more than $180 million throughout the United States. # # # .
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