October 13, 2016
We were very pleased to host Andrea Jung, President & CEO of Grameen America, at the Community Foundation today for an illuminating conversation about the future impact of women in philanthropy. Guests ranged from women who lead major nonprofit institutions and foundations to those who are active volunteers, donors, and fundholders.
Andrea spoke about Grameen America’s work – and partnership with funders – to expand microloans to more low-income women entrepreneurs so that they may positively transform themselves, their families, and their communities.
Here are 10 highlights from Andrea’s engaging remarks:
- Unlike any other time in American history, women’s wealth and control of families’ financial legacies are converging with their leadership in business.
- It is no longer the case that a successful career and nonprofit experience are two separate tracks. They are connected more than ever before.
- There has been a 47% increase in the number of women in empowered C-suite leadership positions.
- Grameen gives women three things: a small loan, a bank account, and the ability to build credit.
- With no collateral and no security, Grameen loans are paid back at a rate of 99.6%.
- What can a $1,500 loan do in the richest country in the world? Changes thousands of lives.
- Women can be the economic engine of any city, state, or country in the world. There is a direct correlation between what a woman earns and the welfare of her children, family, and community.
- The data and logic behind impact are a huge priority for women philanthropists.
- The most important criterion for a Grameen America loan? Commitment.
- After a woman pays back a six-month Grameen America loan, she has a credit score of nearly 700.
Grameen America is now bringing its innovative entrepreneurship program to Newark, New Jersey. To support this important work, click here.