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Q3 2019 Quarterly Report 1 Geography Highlight Expanding Our Reach in California Q2 2019 QUARTERLY Q3 2019 REPORT QUARTERLY LIFTING REPORT NEW YORK LIFTING BOSTON BLANCA CLOTHING STORE OWNER - grameenamerica.org Lifting Boston 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 CALIFORNIA In September, we celebrated with Grameen America Pictured Chair, Nobel Peace Prize Laureate and Grameen Bank Andrea Jung, Professor Founder Muhammad Yunus 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 Manhattan 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 BOSTON 3,630 + 1,136 WOMEN SERVED NEW MEMBERS IN Q3 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2014 2015 2016 2017 2018 2019 (to date) $26,878,000 + $2,005,000 LOANS DISBURSED NEW INVESTMENT IN Q3 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 2014 2015 2016 2017 2018 2019 (to date) Q3 2019 QUARTERLY REPORT 6 PROGRAM GROWTH IN BOSTON 99% 11,578 $2,109,000 REPAYMENT RATE TOTAL LOANS DISBURSED OUTSTANDING LOAN PORTFOLIO $2,300 3,811 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 REBECA Before joining Grameen America, Rebeca ran a community with the other members. She learned money transfer business for over two decades. In from her fellow members to be punctual and is also 2013, after learning about Grameen America from mentoring a fellow member who recently started a a friend, she decided to expand her business to similar business. include a juice bar. Rebeca and her husband run both businesses With her first loan of $1,500, Rebeca purchased a together. In the future, Rebeca plans to use refrigerator, blender, juicer and produce to launch additional loans to hire two employees and expand her new business venture. Due to the affordable to a new location. interest rate, she has stayed in the program and is now on her 12th loan for $11,000. Her most With her involvement with Grameen America, popular product is the green juice, especially early Rebeca has gained access to mainstream financial in the morning when her customers want a fresh services. After repaying her loans each week, Rebeca drink on their way to work. receives financial education and training at center meetings. She now has savings and is building her “Stay within your means, plan for the future but credit score. always be present and ready to step up to the next level.” “GRAMEEN AMERICA HAS HELPED ME SUPPORT MY FAMILY. I SEE With Grameen America, Rebeca has been able THAT THE PROGRAM IS HELPING to gradually expand her business and receive support from other women business owners in WOMEN AND THE COMMUNITY her community. At her weekly Grameen America AROUND THEM.” center meetings, Rebeca has built a strong Q3 2019 QUARTERLY REPORT 8.
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