To Catch A Dollar
Encyclopedia
To Catch a Dollar: Muhammad Yunus Banks on America is an 2010 documentary film
directed and produced by Gayle Ferraro about the 2006 Nobel Peace Prize
winner's ongoing campaign against poverty
around the world. It touches on the beginnings of the original Grameen Bank
in the 1970s, then focuses primarily on the beginnings of Grameen America
's work in the US, especially the launch of its first programs in Queens, New York in 2008. The title of the film comes from a clip of Muhammed Yunus speaking in the film: "In a world where you need a dollar to catch a dollar, you need to have something to help the bottom people to lift themselves up."
The film premiered at the 2010 Sundance Film Festival
. It is expected to open in New York City
and Los Angeles
in early 2011 and then go into general release in the United States and abroad.
Yunus, a former Fulbright Scholar from Bangladesh
, is known for developing the concept of microcredit
, the extension of small loans to entrepreneurs with no collateral
to qualify for traditional bank loans. His concept of microcredit and his desire to reduce the number of people living in poverty led to the creation of Grameen Bank
to support people within Bangladesh, and then the Grameen Foundation
for supporting people internationally. Cofounded by Yunus, Grameen America
opened in January 2008 with a mission "to help create a world free of poverty." In June 2010, Grameen America reported that it had disbursed approximately $4.3 million in loans to 2,002 borrowers and had maintained a repayment rate of 99%.
Documentary film
Documentary films constitute a broad category of nonfictional motion pictures intended to document some aspect of reality, primarily for the purposes of instruction or maintaining a historical record...
directed and produced by Gayle Ferraro about the 2006 Nobel Peace Prize
Nobel Peace Prize
The Nobel Peace Prize is one of the five Nobel Prizes bequeathed by the Swedish industrialist and inventor Alfred Nobel.-Background:According to Nobel's will, the Peace Prize shall be awarded to the person who...
winner's ongoing campaign against poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
around the world. It touches on the beginnings of the original Grameen Bank
Grameen Bank
The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans to the impoverished without requiring collateral...
in the 1970s, then focuses primarily on the beginnings of Grameen America
Grameen America
Grameen America is a 501 nonprofit microfinance organization based in New York and founded by 2006 Nobel Peace Prize recipient Muhammad Yunus. Grameen America's first branch, located in Jackson Heights, NY, opened in January 2008...
's work in the US, especially the launch of its first programs in Queens, New York in 2008. The title of the film comes from a clip of Muhammed Yunus speaking in the film: "In a world where you need a dollar to catch a dollar, you need to have something to help the bottom people to lift themselves up."
The film premiered at the 2010 Sundance Film Festival
Sundance Film Festival
The Sundance Film Festival is a film festival that takes place annually in Utah, in the United States. It is the largest independent cinema festival in the United States. Held in January in Park City, Salt Lake City, and Ogden, as well as at the Sundance Resort, the festival is a showcase for new...
. It is expected to open in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
and Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
in early 2011 and then go into general release in the United States and abroad.
Plot
The film focuses on the work of Shah Newaz, a long time Grameen Bank manager, and Alethia Mendez, a Grameen America Center Manager, as they undergo the process of successfully establishing the programs of Grameen America in Queens, New York. The film features stories of some of Grameen America's first clients, women below the poverty line working to build businesses such as a hair salon and a bakery. It shows Newez and Mendez working out of a small office and holding group meetings in people's homes, as group meetings are a core element of the Grameen Bank peer lending model.Yunus, a former Fulbright Scholar from Bangladesh
Bangladesh
Bangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...
, is known for developing the concept of microcredit
Microcredit
Microcredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
, the extension of small loans to entrepreneurs with no collateral
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.The collateral serves as protection for a lender against a borrower's default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation...
to qualify for traditional bank loans. His concept of microcredit and his desire to reduce the number of people living in poverty led to the creation of Grameen Bank
Grameen Bank
The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans to the impoverished without requiring collateral...
to support people within Bangladesh, and then the Grameen Foundation
Grameen Foundation
Grameen Foundation, founded as Grameen Foundation USA, is a global 501 non-profit organization based in Washington DC that works to replicate the Grameen Bank microfinance model around the world through a global network of partner microfinance institutions...
for supporting people internationally. Cofounded by Yunus, Grameen America
Grameen America
Grameen America is a 501 nonprofit microfinance organization based in New York and founded by 2006 Nobel Peace Prize recipient Muhammad Yunus. Grameen America's first branch, located in Jackson Heights, NY, opened in January 2008...
opened in January 2008 with a mission "to help create a world free of poverty." In June 2010, Grameen America reported that it had disbursed approximately $4.3 million in loans to 2,002 borrowers and had maintained a repayment rate of 99%.