Dominic Ng, Andrea Jung and Dr. Muhammad Yunus at Grameen America’s Los Angeles ribbon cutting.
(Photo by Timothy Tiernan)
Inspired leadership and corporate social responsibility are essential for driving positive change. A trailblazer throughout her life, Grameen America CEO Andrea Jung was the former Chairman and CEO of Avon, and the longest-serving female CEO of a Fortune 500 company. As Grameen America CEO, she is focused on bridging the gap for financially undeserved women entrepreneurs through microlending and training. With a $2 million grant from East West, Grameen America is opening another branch in Houston, Texas this week. I spoke with Andrea about her insights on female CEO leadership, her commitment to empowering women, and partnering with East West to help women reach further.
Dominic Ng: As Chairman and CEO of Avon, you were the longest-serving female CEO of a Fortune 500 company. What inspired you to transition from Avon to Grameen America?
Andrea Jung: From a young age, I knew I wanted to make a difference. Given the financial limitations my family faced, I was expected to enter the workforce after college rather than pursue something like the Peace Corps. Over time, I realized it's possible to do both—love your career and create meaningful societal impact. I found that balance during my years with Avon and now again at Grameen America.
At Avon, I witnessed firsthand the transformative power of providing economic opportunities for women all over the world, especially as many of our millions of sales representatives were in developing countries. Similarly, my transition from Avon to Grameen America was driven by my continued deep passion for economic empowerment for women.
Grameen America was founded by Nobel Peace Prize Laureate Dr. Muhammad Yunus who pioneered a model for microfinance lending in Bangladesh. This model was replicated in the U.S. so that access to capital could help underserved women entrepreneurs build businesses and achieve upward financial mobility.
Jennifer Lopez and Andrea Jung at Grameen America event.
(Photo by Stefanie Keenan via GettyImages)
Dominic Ng: Can you elaborate on how Grameen America supports underserved women entrepreneurs?
Andrea Jung: Grameen America provides affordable microloans, financial education, and peer networking to women living in low-income and underserved communities across the country. We offer loans without requiring collateral, which is a significant barrier for many women who are generally shut out of the financial system. Our financial education programs help women understand credit and develop essential business skills. We also foster a supportive community where members encourage and learn from each other.
Dominic Ng: I was honored to join you and Grameen Bank founder Dr. Muhammad Yunus for the ribbon cutting of the first branch East West Bank supported in Los Angeles, California, five years ago. What kind of outcome improvements have you seen since then?
Andrea Jung: East West Bank has been a tremendous support to Grameen America, and by extension, our members, their families and communities. The Bank's donation of $2 million in 2019 helped us open and operate our third branch in Los Angeles County, and the contribution of $1.5 million in loan capital enabled us to provide microloans to women entrepreneurs throughout the U.S. Since opening, East West’s support of our second Houston location facilitated $17.6 million in loans to over 2,000 entrepreneurs. With Houston being a Top 10 city for starting a business, we are excited to continue our partnership with East West to bring affordable capital to women across Houston. Through the Bank’s financial and volunteer support for business education workshops, we’re fulfilling our shared goals of helping our communities reach further and connect to new opportunities.
Andrea Jung, Nobel Prize Laureate Dr. Muhammad Yunus, Dominic Ng and other guests at ribbon cutting for the Grameen America Los Angeles location sponsored by East West Bank.
(Photo by Timothy Tiernan)
Dominic Ng: Is there an entrepreneur story that stands out for you?
Andrea Jung: At Grameen America, we have what we call an empowering scale engine. As of 2024, we have invested $4.5 billion in 205,000 women across 27 cities. Our model transforms philanthropy into a catalytic agent, unlocking the scale and impact of true social businesses. We have a 99.8% repayment rate, and every $1 invested yields $13 invested into the program over five years.
One Grameen America loan recipient that stands out to me is Evelyn, a mother and third-generation entrepreneur now running three successful businesses in Los Angeles. She started with an initial $1,000 loan from Grameen America in 2015. She used that first loan to grow her business selling children’s toys. Having her own business allowed her to build financial independence and spend more quality time with her two daughters. Evelyn’s toy store has been in business for nine years now, and thanks to her ongoing support from Grameen America, she has since started two additional businesses—an electronics store and an anime store. Evelyn is a radiant example to her daughters, who are following in her entrepreneurial footsteps. Her teenager is pursuing a certificate in business administration, and her youngest daughter is already selling snacks on weekends.
Grameen America member Evelyn and her two daughters.
(Photo courtesy of Grameen America)
Dominic Ng: You have held national leadership roles, serving on the boards of some of the largest multinational companies like Apple and Unilever. How do you approach leadership?
Andrea Jung: Leadership is defined by inspiring others and the ability to create a legacy of lasting impact. A clear vision paired with genuine dedication to the mission is crucial. In the nonprofit world, empathy and resilience are key—leaders must deeply understand the challenges their communities face and stay committed to driving meaningful change. At Grameen America, we go beyond financial support, offering peer mentorship and training that empower women to thrive and uplift their communities.
Dominic Ng: You are known for being one of the most influential woman executive leaders in the U.S. and globally. Who is your inspiration?
Andrea Jung: So many women have encouraged and supported me along my journey, but I have to start with my mother, who has always been my greatest inspiration. As a chemical engineer and a working mom born in Shanghai, she was truly ahead of her time. My Chinese parents raised my brother and me with a strong set of ethics and particularly promoted gender equality—always teaching me that girls could achieve anything boys could. They taught us the value of hard work and perseverance and never giving up and never placing limits on our dreams. That mindset has influenced everything I’ve pursued in life.
Dominic Ng: What are your hopes and goals for Grameen America?
Andrea Jung: I am committed to exponentially scaling Grameen America's impact and reaching significantly more women across the U.S. We plan to extend our programs to new cities and strengthen our financial education and training initiatives.
We recently launched a transformational $600 million campaign, called Women Are Limitless, to realize our bold 10-year goals. Over the next decade, we aim to open two times the number of locations, reach 750,000 women entrepreneurs, and disburse $40 billion dollars—ten times the amount of loan capital by 2033.
Our ultimate vision is to create a ripple effect where empowered women uplift their families and communities, fostering sustainable economic growth and social progress. I am optimistic about the future and the immense potential of women entrepreneurs to be catalysts for change.