Jennifer Lopez is paying it forward.
The Grammy Award nominee, 52, has teamed up with micro-finance nonprofit Grameen America to deploy $14 billion in loan capital to 600,000 Latina-owned small businesses by 2030, in addition to offering her mentorship to Latina women living below the federal poverty level.
“Being Latino in this country has always been a matter of pride for me. I am humbled and beyond grateful to partner with Grameen America,” she said in a statement. “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. This will change the fabric of America!” Lopez added.
Through her own philanthropic effort Limitless Labs, the initiative will also provide 6 million hours of financial training and education.
Lopez kicked off her role as Grameen’s national ambassador on Wednesday at the Tribeca Film Festival, where she was accompanied by some of the program’s Latina entrepreneurs for the red carpet premiere of her Netflix documentary Halftime.
Andrea Jung, president & CEO of Grameen America, championed their partnership with the Hustlers actress, while emphasizing the organization’s commitment to closing gaps in opportunity.
“Jennifer Lopez is a trailblazer, having given visibility and advocacy to ensure Latina women are educated, financially empowered, and healthy,” she said. “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.
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“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,” Jung added.
Lopez previously announced her Limitless Labs initiative in September, partnering with Goldman Sachs’ 10,000 Small Businesses program. The collaboration focused on supporting and empowering Latina businesswomen in her Bronx hometown.