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2019.02.06

Dow Donates $35K to Empower Women Entrepreneurs

In 2018, Dow donated $35,000 to Grameen America, an organization dedicated to helping entrepreneurial women who live in poverty build businesses to enable financial mobility. The $35,000 donation was divided into microloans of up to $2000 to fund 17 women-led small businesses in the Los Angeles, California area.

Founded in Queens, NY, in 2008, the organization has had great success in financing new businesses based on the revolutionary model created by Nobel Peace Prize recipient Muhammad Yunus, in which women encourage, support, lead and learn from each other. In this system women who want a microloan to start or expand their business can join a group of four other women and each receive a microloan. Then, as a group, they learn about loans, savings, and credit-building. In addition to receiving a microloan for her business, each woman in the group can open a no-fee savings account at a Grameen partner bank and will soon develop a credit history because, as she repays the loan, the payments are reported to major credit bureaus like in any other loan. The groups meet weekly to make repayments, continue their education, and build peer support networks.

Without Grameen America’s support, these entrepreneurs would have had little to no access to capital. Now, they not only have access to that seed investment but also are able to get bank accounts and improve their credit score, securing a brighter future for themselves and their families.

“This gift from Dow helps some of Los Angeles’ most disadvantaged neighborhoods and furthers our mission to knock down barriers to economic independence.” Jill Monum Grameen America’s Senior Director, Corporate Partnerships.

Dow recognizes that initiatives like this can have a tremendous impact. Aligned to Dow’s 2025 Sustainability Goal of “Engaging Employees for Impact” this donation showcases our commitment to advancing the well-being of humanity in part by building stronger, more resilient communities at the intersection of sustainability, innovation and citizenship. Working with Grameen America, together we are empowering women living in poverty to move towards financial security where she can provide for herself, her family, and contribute to the community.

“Dow’s commitment to empower communities, including minority and disadvantaged populations, is on display with this grant to Grameen America,” said Kristen Bovid, Global Citizenship Program Officer. “We are excited to see the businesses these women create” said Verna Talcott, North America Marketing Manager for Personal Care.

noav_content_nancy_500x400

Nancy - Grameen America microloan recipient


About Dow

Dow combines science and technology knowledge to develop premier materials science solutions that are essential to human progress. Dow has one of the strongest and broadest toolkits in the industry, with robust technology, asset integration, scale and competitive capabilities that help it to address complex global issues. Dow’s market-driven, industry-leading portfolio of advanced materials, industrial intermediates and plastics businesses deliver a broad range of differentiated technology-based products and solutions for customers in high-growth markets such as packaging, infrastructure and consumer care. Dow is a subsidiary of DowDuPont Inc. (NYSE: DWDP), a holding company comprised of Dow and DuPont with the intent to form three strong, independent, publicly traded companies in agriculture, materials science and specialty sectors. More information can be found at www.dow.com.

About Grameen America
Grameen America is the fastest growing nonprofit microfinance organization in the United States with a proven national solution to advance financial inclusion for women. We provide small loans, training and support to low-income women to help them build businesses, achieve higher family incomes and revitalize their communities. More information can be found at www.grameenamerica.org.


For further information, please contact:

Kelly Serke
Dow Home and Personal Care
+1 6102447753
KKSerke@dow.com

Jason Grobstein
Grameen America
+1 718-704-0431
Media@grameenamerica.org