• Oct 05, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

Grameen America delivers credit at reasonable interest rates to be an affordable alternative to moneylenders, payday institutions, and pawnshops. These predatory lenders usually loan money at excessively high interest rates, making it extremely difficult for entrepreneurs living below the poverty line to turn their ideas into profitable businesses. Who qualifies for a loan? Our loans are distributed to individuals living below the poverty line who have great business ideas but have difficulty accessing credit at reasonable rates You do not need to have a: – Current bank account – Credit history – Collateral – Guarantors You do need to: – Have a dream of a business – Be in need and living below the poverty line – Create or join a 5-member group of like-minded individuals who want to start or expand their own businesses – Be a permanent resident of the community – Live close to your group members – Be the only member of your household applying for membership in the same Group (close relatives such as mother, sister, or in-laws are not allowed but may join another group) – Have a business in Queens, Brooklyn, and Upper Manhattan New York How loans are used: – Income-generating assets – Establish a microenterprise – Expand an existing small business Contact Information Grameen America, Inc Address: 1460 Broadway, 14th Floor City: New York State: New York Website: https://www.grameenamerica.com/