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New Partnership To Assist Underserved Women Entrepreneurs

Grameen

Southern California-based East West Bank and microfinance nonprofit organization Grameen America recently announced a collaboration to assist low-income women entrepreneurs with access to capital and financial services through a new branch at 316 E. Anaheim St. in Long Beach’s Cambodia Town. East West Bank donated $2 million to assist in the opening and operation of the branch, Grameen’s third in Los Angeles County. Additionally, East West Bank is providing $1.5 million in loan capital to assist Grameen members. “East West Bank’s investment in our program is instrumental to our expansion and will amplify our mission to serve low-income entrepreneurial women across the country,” Andrea Jung, president and CEO of Grameen, stated in a press release. “Financial inclusion can change the lives of women entrepreneurs, and our shared commitment to addressing economic barriers will prove invaluable to the communities we serve.” Grameen has invested over $1.24 billion to more than 120,000 women since being founded in Jackson Heights, Queens, in 2008. Pictured at the September 19 Long Beach branch ribbon-cutting ceremony from left: Diana Martinez, Grameen; Jessica Osnaya, Grameen; Marybel Lorenzo, Grameen Long Beach branch manager; Alethia Mendez, Grameen; Grameen President and CEO Andrea Jung; Grameen Founder and Nobel Prize recipient Muhammad Yunus; East West Bank President and CEO Dominic Ng; and Mindee Barham, Grameen. (Photograph by Brandon Richardson)

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