Microloans
 

Grameen America, Inc., a nonprofit microfinance organization based in New York, was founded in 2008 by Nobel Peace Prize winner Muhammad Yunus. Its mission is to help alleviate poverty through entrepreneurship by providing loans, savings programs, credit establishment, and other services to low-income individuals in the United States. All loans support small business activities including cleaning, food and beverage, clothing, health and fitness, home décor, salon services, and transportation.

Grameen America has a branch in northern Manhattan, which disbursed its first loan in March 2009. The branch has grown to nearly 400 borrowers with a growth strategy to increase to over 4,000 borrowers.

The Washington Heights and Inwood Development Corporation (WHIDC) has been a long-time partner of UMEZ. Organized in 1978, WHIDC serves to encourage the development and retention of businesses and jobs in Upper Manhattan and to develop efforts to spread awareness of the cultural vitality and attractiveness of the communities to businesses, investors and the public. WHIDC funds an annual street vendor market at the La Plaza De Las Americas, micro-lending loans, childcare business development and the annual Medieval festival at Fort Tyson Park.