Yareli owns and operates a bakery in Miami, Florida. When we met Yareli, she was on her second microloan from WPF microfinance partner Grameen America in Miami. She used her first loan of $2000 to purchase ingredients like flour, sugar, and baking soda. Now she is on her second loan from Grameen America. Using recipes from her mother, Yareli, her husband, and daughter have all put time and energy into the business making traditional Honduran pastries and breads. Yareli is also the leader of her loan solidarity group. When we met her, the group totaled 25 women. She hopes to increase her group to 30 women. The name of her group is “Warrior Entrepreneurs.”
Yareli says she appreciates the access to capital from Grameen America. She says the interest rates and fees are much lower than they would be with another lender, so she is happy to have the opportunity to borrow from them.
Microfinance Partner: Grameen America
Grameen America is a microfinance organization established in 2008 whose mission is to help alleviate poverty through entrepreneurship by providing loans, savings programs, credit establishment, and other services to the working poor, especially women, in the United States.