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New Partnership To Assist Underserved Women Entrepreneurs

Release Date: 2019-09-23

By Brandon Richardson

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.

Read more on the Long Beach Business Journal