In support of microloans geared to entrepreneurs, Wills Fargo announced in February that it is providing $7 million to Grameen America. Based in New York, Grameen America was founded in 2008 by Nobel Peace Prize recipient Muhammad Yunus and is run by Andrea Jung, the former Chairman and CEO of Avon. The organization provides loans, savings programs, financial education, and credit establishment to women who live in poverty in the United States. All loans are for the purpose of building small businesses.
Sarah Bennett, Wells Fargo Community Lending & Investment SVP, says that “working with Grameen helps us make a bigger impact on small businesses in their early stages of development, and that is critical to the success of women entrepreneurs.”