Inspired by the experience of how much can be achieved with lending a small amount of money, Prof. Yunus founded the Grameen Bank for the purpose of lending money (microcredits) to people who had no access to capital. Grameen is the Bengali word for "village" and therefore describes the very character of the social business philosophy - starting small. The Grameen Bank became a great success and enabled many people to get out of poverty.
The microfinance business model soon spread from Bangladesh around the world. At the same time, in Bangladesh, Grameen has constantly been devising new entrepreneurial solutions to the problems of the poor. They not only need access to capital, but many other things to work their way out of poverty: Health and education, clean water, good food and access to electricity - to name just a few. Various kinds of social businesses are dedicated to address these issues. By the way: The Grameen Bank also happened to be a social business.