Simplify the following text for a Grade 8 native English-speaking person.
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 .