Mizuho Americas Increases its Commitment to Grameen America

Rhea-AI Summary

Mizuho Americas provides $5 million loan to Grameen America to support low-income women entrepreneurs in building businesses. Mizuho's commitment to CDFIs and financial inclusion highlighted through the partnership. Grameen America appreciates the support for creating economic opportunities and driving positive change in underserved communities.

NEW YORK, March 20, 2024 (GLOBE NEWSWIRE) -- Mizuho Americas today announced its first loan to Grameen America, a certified U.S. Community Development Financial Institution (CDFI) dedicated to helping low-income entrepreneurial women build businesses to enable financial mobility. Mizuho provided $5 million in debt capital to Grameen America and its microlending program as part of the firm’s ongoing commitment to CDFIs and financial inclusion. In past years, the Mizuho USA Foundation has awarded Grameen America with grant support for the non-profit’s financial education and other community programs.

“We are proud to support Grameen America and its deliberate approach to providing women with capital needed to start a small business, achieve financial mobility, and contribute to greater prosperity in their communities by creating jobs.” said Michal Katz, Head of Investment & Corporate Banking, Mizuho Americas.

Expressing Grameen America’s appreciation in deepening its partnership with Mizuho, Lucas Ramirez, Chief Financial Officer at Grameen America, remarked, "We are thrilled to strengthen our partnership with Mizuho, an organization that shares our passion for creating lasting social and economic change for women entrepreneurs. Together, we are committed to driving positive change and creating opportunities for economic advancement in underserved communities."

The credit facility was arranged through Mizuho Bank (USA), a subsidiary of Mizuho Americas headed by Noriko Ito, President and CEO. The Bank is a wholesale commercial banking institution based in New York City that engages in traditional lending, corporate finance activities and other financial services with a broad range of corporate clients located in the Americas.

About Mizuho
Mizuho Financial Group, Inc. is the 15th largest bank in the world as measured by total assets of ~$2 trillion, according to S&P Global 2022. Mizuho’s 60,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 800 offices throughout the Americas, EMEA, and Asia.

Mizuho Americas is a leading provider of corporate and investment banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody, and research to corporate, private equity, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho provides M&A, restructuring, and private capital advisory capabilities across Americas, Europe, and Asia. Mizuho employs approximately 3,500 professionals, for more information visit www.mizuhoamericas.com

About Grameen America
Grameen America is a 501(c)(3) nonprofit microfinance organization dedicated to helping underserved women build small businesses to create better lives for their families. The organization offers microloans, training, and support to transform communities and fight poverty in the United States. Since opening in January 2008, Grameen America has invested $4 billion in nearly 190,000 low-income women entrepreneurs. Opening initially in Jackson Heights, Queens, Grameen America has expanded to 27 cities in Atlanta, GA, Austin, TX, Boston, MA, Camden, NJ, Charlotte, NC, Chicago, IL, Bridgeport, CT, Hartford, CT, New Haven, CT, Dallas, TX, Fresno, CA, Houston, TX, Indianapolis, IN, Los Angeles, CA, Memphis, TN, Miami, FL, Newark, NJ, New York City, NY, Omaha, NE, Oakland, CA, Phoenix, AZ, Riverside, CA, San Antonio, TX, San Bernadino, CA, San Jose, CA, Trenton, NJ and Union City, NJ.

For inquiries, please contact:
Jim Gorman
Executive Director, Media Relations, Mizuho Americas
+1-212-282-3867
jim.gorman@mizuhogroup.com

Laura London
Director, Media Relations, Mizuho Americas
+1-212-282-4446
laura.london@mizuhogroup.com

FAQ

What is the amount of the loan provided by Mizuho Americas to Grameen America?

Mizuho Americas provided a $5 million loan to Grameen America.

What is the focus of Grameen America as a certified U.S. CDFI?

Grameen America is dedicated to helping low-income entrepreneurial women build businesses to enable financial mobility.

Who is the Head of Investment & Corporate Banking at Mizuho Americas?

Michal Katz is the Head of Investment & Corporate Banking at Mizuho Americas.

What type of financial support has Mizuho USA Foundation provided to Grameen America in the past?

Mizuho USA Foundation has awarded grant support for Grameen America's financial education and community programs.

What type of financial institution is Mizuho Bank (USA), a subsidiary of Mizuho Americas?

Mizuho Bank (USA) is a wholesale commercial banking institution based in New York City.