Grameen Bank Sample Clauses

Grameen Bank. Grameen Bank has operated in Sololá, Guatemala for three years. The bank’s original intention was to set up a three-year project with a target of 3,500 clients and then disperse the project to the local people to continue its operations. However, Grameen Bank successfully expanded to about 7,500 clients in that three years time and consequently, the local branch sought to expand. As of 2010, Grameen still has a strong presence in Sololá with local employees to help run the administrative aspects of the project. They also maintain a partnership with Banrural, a local established bank in Guatemala. Grameen in Guatemala follows the original Grameen methodology with a few operational changes. They maintain the basic structure of Grameen microfinance, where they provide a system of loans and savings, with incentives for participants to work as a supportive team and to repay loans earlier. As expected, business loan groups are comprised of 4-5 women. The women can each run their businesses individually, but access to future loans is dependent upon group repayment success. At the inception of loan disbursement to a group of women, only two of the women will initially receive loans. If these two women manage to successfully repay their first payments, then the remaining three women will begin receiving loans two weeks later. In other words, all members of a group should receive loan money after a three week period. During your trip to Guatemala, you will have the opportunity to see first-hand how Grameen’s microfinance program works on the ground in Sololá.