Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Morgan Stanley Works With Grameen America

To develop financial projections and analyse funding needs of the entrepreneurs living below the poverty line in the US

Grameen America, a non-profit microfinance organization and Morgan Stanley have completed a pro-bono advisory assignment in which both organizations collaborated closely to develop Grameen America’s financial projections and materials that prepare Grameen America to engage potential funding partners. Reportedly, Morgan Stanley provided financial modeling expertise to allow Grameen America management to estimate the organization’s capital requirements under different growth and operating performance scenarios.

Morgan Stanley has also completed the project through its environment, social finance and community reinvestment group, with support from the firm’s investment banking division and microfinance advisory board.

Grameen America has said that it aims to alleviate poverty by providing credit to entrepreneurs living below the poverty line in the US. It has added that as of August 2009, it has lent over $2.4 million to over 1,000 members while expanding to other boroughs of New York City as well as to Omaha, Nebraska.

Stephen Vogel, CEO of Grameen America, said: “We are grateful to have tapped Morgan Stanley’s deep advisory, capital markets and micro finance expertise as we pursue our twin objectives of poverty alleviation and sustainability. Morgan Stanley’s work has positioned us to proactively engage funding partners as we continue to scale up our business.”

Audrey Choi, managing director and head of Morgan Stanley’s environment, social finance and community reinvestment group, said: “The Grameen America project provided a unique opportunity to leverage core skills of Morgan Stanley to build the capacity of a fast-growing microfinance institution. Microfinance in the US can have a real impact by stimulating small business development that builds individual and community wealth among low-income entrepreneurs. We look forward to watching Grameen America’s continued success and to finding new opportunities to work together.”