Jennifer Lopez’s ‘Limitless Labs’ empowers Latina small businesses [video]

Jennifer Lopez’s ‘Limitless Labs’ initiative supports Latina small business owners. See below to apply!

Jennifer Lopez Partners with Grameen America to Accelerate its Goal to Deploy $14 Billion in Loan Capital to 600,000 Low-Income Latina Entrepreneurs by 2030.

Jennifer Lopez is the talk of the internet thanks to her new documentary Halftime which arrived on Netflix recently.

The hour-and-a-half long special sees the global superstar reflect on her hugely successful career and the pressure of life in the spotlight. It particularly focuses on her famous Super Bowl half-time show performance with Shakira in 2020, which was watched by millions worldwide.

In the documentary, JLo speaks about her initiative ‘Limitless Labs’ but what is it? See below to find out!

Review! Jennifer Lopez New Netflix Documentary is ‘Halftime’

 

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What is Limitless Labs?

“Grameen America is the only organization with the national scale, reach, and proven model required to deploy $14 billion in loan capital to emerging businesswomen in Latinx communities. Together we will shape entrepreneurship as a viable pathway to success for Latina women who have historically lacked access to the formal financial markets and are often marginalized from economic opportunity.”

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Jennifer Lopez has partnered with microfinance organization Grameen America to advance financial empowerment for Latina businesswomen.

As an ambassador for Grameen, Lopez will act as an advocate and mentor for its network of more than 150,000 small businesses run by women in predominantly Latinx communities across the United States.

Grameen America is a 501(c)(3) nonprofit microfinance organization dedicated to helping women who live in poverty build small businesses to create better lives for their families. The organization provides access to business capital, credit- and asset-building, financial education, and peer support to enable women to boost their income and create jobs in their communities.

 

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Allocates $14 billion to Latina entrepreneurs:

Lopez’s philanthropic organization, Limitless Labs, will act as a partner supporting Grameen’s goal empower 600,000 Latina entrepreneurs across 50 U.S. cities with $14 billion in business capital and 6 million hours of financial education and training by 2030.

”We’re building pathways to employment and leadership opportunities,” Lopez said. “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. ”

Grameen said that since its founding in 2008, it has distributed $2.6 billion in loans to more than 150,000 women in 23 U.S. cities, helping to create and maintain 157,000 jobs. The organization’s repayment rate is over 99% and its members have achieved an average credit score of 644 through participation in the program.

 

How to apply!

Grameen America, Jennifer Lopez, and #LimitlessLabs share a mission to propel economic opportunity for women.

In the past 10 years, the number of Latino-owned small businesses has grown 44% compared to just 4% for non-Latinos, according to a recent report by the Stanford Latino Entrepreneurship Initiative. The same report notes Latino-owned businesses are significantly less likely than white-owned businesses to receive loans from national banks, despite demonstrating strong lending criteria. For women, financial exclusion is disproportionately higher as only 4% of all small business loans from mainstream financial institutions go to women, according to a report by the
National Women’s Business Council.

The new partnership with Jennifer Lopez and #LimitlessLabs aims to connect Latina entrepreneurs with life-changing access to business capital, credit- and asset-building, financial education and training, and peer support, enabling women to boost their income and create jobs in their communities.

Click below to apply:

In order to get the loans, applicants must become a member of Grameen and they’re required to complete a week-long financial training course before receiving the loan.

They are then required to take weekly financial literacy sessions and must also make loan payments weekly.

Grameen America provides ongoing financial education to members and reports microloan repayments to credit bureaus to help them build credit. Since its founding in 2008, it has served over 150,000 women in 23 U.S. cities and distributed $2.6 billion in loans. The organization’s repayment rate is over 99 percent and its members have achieved an average credit score of 644 through participation in the program.

 

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For media inquiries for Grameen America, contact media@grameenamerica.org

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