Original: The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral.
Simplified: The Grameen Bank is a community development bank started in Bangladesh. They give small loans (known as microcredit or "grameencredit") to poor people without asking for money before the loan is given.