The 80|20 Foundation, committed to forging a more promising future for San Antonio by supporting initiatives that foster economic growth and workforce development, has reaffirmed its commitment to empowering the entrepreneurial spirit of low-income women in San Antonio. The Foundation is pleased to announce a second grant of $100,000 to Grameen America, a nonprofit microfinance organization, to bolster its microlending program for low-income women entrepreneurs in San Antonio.
This award is a continuation of the 80|20 Foundation’s partnership with Grameen America, which received a grant of $100,000 in 2021 when Grameen expanded its operations to San Antonio. The San Antonio branch has served more than 389 low-income women entrepreneurs to date, disbursing 753 microloans totaling $1.8 million in business capital. In 2023, the organization expects to continue its growth in the region, enabling women entrepreneurs to start and build their small businesses and help them recover from the pandemic-related economic crisis, which has disproportionately impacted financially underserved communities.
“Grameen America is proud to deepen its impact in San Antonio to provide more women entrepreneurs with life-changing loan capital to grow their businesses, access the financial system, and create jobs in their communities. The 80|20 Foundation’s newest grant commitment is instrumental in advancing entrepreneurship in San Antonio and financial inclusion for women of color business owners living in financially underserved communities,” said Andrea Jung, President and CEO of Grameen America.
“We are proud to continue our partnership with Grameen America. By investing in low-income women entrepreneurs, we are fostering a more inclusive and resilient local economy. We stand firmly behind the notion that entrepreneurship can be a powerful catalyst for positive change in our community, and Grameen America exemplifies this vision,” said Alexandra Frey, Executive Director of the 80|20 Foundation.
Since 2014, the collective efforts of Grameen America’s five branches throughout Texas, have resulted in the distribution of over $132 million in microloans, benefiting over 10,200 low-income women entrepreneurs throughout the state. Beyond the borders of Texas, Grameen America has emerged as the fastest-growing nonprofit microfinance organization in the United States, with 31 branches in 25 cities.
Grameen America began operations in Texas with the launch of its Austin branch in 2014, followed by expansions to underserved communities in Houston, San Antonio and Dallas. Combined, Grameen America’s five branches in Texas have distributed over $132 million in microloans to over 10,200 low-income women entrepreneurs across the state.
Since opening in 2008, Grameen America has expanded to 31 branches in 25 cities across the U.S., including one of its newer branches in San Antonio. The fastest-growing non-profit microfinance organization in the U.S., Grameen America has assisted more than 177,000 low-income women entrepreneurs, investing $3.4 billion in their small businesses. These women historically repay their loans at a rate of over 99% and are helping to transform lives in their families and communities. Grameen America serves a unique role in the nation’s entrepreneurial landscape as the only nationally scaling organization employing a group lending model and offering affordable capital to women, requiring neither credit nor collateral, all while providing weekly touchpoints to support their entrepreneurial activities.
The 80|20 Foundation and Grameen America invite women entrepreneurs in San Antonio to apply for this transformative opportunity to access capital and support for their business aspirations. To inquire about a loan, please visit https://www.grameenamerica.org/request-a-loan.
About the 80|20 Foundation
The 80|20 Foundation invests in San Antonio’s future by issuing grants to public charities that attract, grow, and retain San Antonio’s future workforce and job-creating entrepreneurs. To learn more visit https://8020foundation.com/.
About Grameen America
Founded by Nobel Peace Prize recipient Muhammad Yunus, Grameen America is a 501(c)(3) nonprofit microfinance organization dedicated to helping low-income women build small businesses to create better lives for their families. The organization offers access to loan capital, financial education, asset- and credit-building, and peer support to transform communities and advance financial mobility in the United States. Since January 2008, Grameen America has invested over $3.4 billion in more than 178,000 women entrepreneurs. Opening originally in Jackson Heights, Queens, Grameen America has expanded to 25 cities in Atlanta, GA, Austin, TX, Boston, MA, Camden, NJ, Charlotte, NC, Chicago, IL, Connecticut, Dallas, TX, Fresno, CA, Houston, TX, Indianapolis, IN, Los Angeles, CA, Memphis, TN, Miami, FL, Newark, NJ, New York, NY, Omaha, NE, Oakland, CA, San Antonio, TX, San Jose, CA, Trenton, NJ and Union City, NJ.