Jennifer Lopez announced that she will be partnering with Grameen America, a nonprofit finance organization founded by Nobel Peace Prize recipient and Bangladeshi national Muhammad Yunus.
Lopez and the organization are planning on giving out more than $14 billion in loans to 600,000 low-income Latina entrepreneurs by 2030.
They will also receive over six million hours of financial education and training.
A 2020 State of Latino Entrepreneurship report recently found that Latino-owned businesses are significantly less likely than similar White-owned businesses to have loans approved by banks in America.
This instance is one of the reasons why Lopez and CEO and President of Grameen America, Andrea Jung, are trying to change that narrative.
“Being Latino in this country has always been a matter of pride for me,” Lopez said in a statement with Grameen. “I am humbled and beyond grateful to partner with Grameen America.”
“We’re building pathways to employment and leadership opportunities. There’s so much strength in this community and we’re harnessing that. This partnership will create equality, inclusivity and opportunity for Latina women in business,” she continued.
In an interview with Good Morning America, Lopez stated Latinas are “tough, inventive, and creative.”
“It`s important to me, when you get a little bit older you understand the meaning of things, and you`ve seen enough and had your own struggle, I just feel like this country needs more love and positivity,” she said to John Quiñones.
She also stated that this collaboration will hopefully change the perspective on how the country sees Latina women.
