From Audria Belton, Truist, August 17, 2021
Grameen America, a nonprofit community development financial institution helping low-income women entrepreneurs build small businesses, announced today it has received a $1.5 million grant from Truist Foundation to strengthen its current program model to empower Black women entrepreneurs.
“Seed funding from Truist Foundation will play a transformative role in innovating and adapting our model to advance economic independence for Black women entrepreneurs,” said Andrea Jung, president and CEO of Grameen America. “Together we aim to remove systemic barriers in accessing affordable capital for small businesses led by Black women. When we invest in financial equality for all women, we’re in turn strengthening microbusinesses, creating jobs and revitalizing local economies.”
This grant will help lay the groundwork for Grameen America’s 10-year plan aimed at providing $1.3 billion in loans to more than 80,000 Black women entrepreneurs by 2030. The dedicated program will offer loan capital, financial training, and asset and credit building tools to Black women entrepreneurs.
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