We put culture first
We build on people’s brilliant, informal practices of lending and saving together to bring them out of the financial shadows.
We use tech for good
We use technology to provide customized, intuitive tools that are relevant to clients’ financial lives and remove barriers to access.
We share the love
We built something that works—so we share it. We equip nonprofits to make loan programs available in their communities.
We first piloted Lending Circles in San Francisco’s Mission District. But we knew from the beginning that communities across the country would benefit from opportunities to save and build credit.
By partnering with nonprofits nationwide, we are helping thousands of people emerge from the financial shadows and build brighter futures. Today our partners offer Lending Circles in 17 states and Washington, D.C.
Think outside the box
Hands-on practice building programs that work for clients
Making finance fair
“It’s about more than credit. It’s about justice.” – Dr. Fred Wherry, Yale
Beta testing
A chance to test drive the newly released Lending Circles app
Black tie optional
A ceremony to celebrate outstanding Lending Circles partners
Nitty-gritty credit
Expert advice from Credit Builders Alliance, Experian, and FICO
Women in tech
Four fierce nonprofit leaders on how nonprofits can embrace tech solutions
Hear it from the pros
Life lessons from four inspiring Lending Circles clients
MAFter Party
One marvelous night of food, music, and superhero-themed fun
Summit speakers and attendees
Expectations met or exceeded
Would recommend to a friend
Helping youth build credit for the first time
A staggering 43% of young adults are un- or under-banked. Without knowledge of how to build a good credit history, they enter adulthood already at a disadvantage. A low credit score can be a barrier to getting approved for a bank account, qualifying for student loans, renting a first apartment, and even getting a good job.
At Game Theory Academy in Oakland, CA, Lending Circles give young people a crash course in money management and a way to build for the future: saving for a goal, planning ahead, repaying a loan, and establishing a credit history.Source: FDIC
Giving aspiring entrepreneurs a boost
Entrepreneurship offers a promising path to financial security. But running a business takes more than hard work: it takes start-up capital and good credit. This creates barriers to success for low-income entrepreneurs, particularly people of color, immigrants, and women.
Hacienda Community Development Corporation offers Lending Circles to the talented food entrepreneurs of the Portland Mercado, a Latino marketplace, business incubator, and cultural center that houses nearly 20 small food-based businesses.Source: CFED
Prosperity for immigrants and refugees
Recent immigrants face enormous barriers in integrating into the U.S. financial system: low and unstable incomes, thin or damaged credit histories, language barriers, and limited access to banking services.
With Lending Circles, Comunidades Latinas Unidas en Servicio (CLUES) provides credit-building opportunities, the support of a social network, and access to zero-interest loans. The social lending model has resonated with CLUES’ diverse client communities: Latino, African-American, Somali, Native American, and Hmong.
Building power in the LGBTQ community
Queer and gender non-conforming people struggle disproportionately with poverty. LGBTQ youth are twice as likely as their peers to be homeless. Discrimination in the workplace makes it harder to find and keep good jobs.
The Brown Boi Project in Oakland, CA, uses Lending Circles to help masculine of center womyn, queer, and trans people of people of color achieve financial security and wellness.Sources: CUNY, Center for American Progress.
Revitalizing communities
As cities attract new businesses, development, and wealth, longtime residents struggle to keep their homes. For low-income residents, especially people of color, “growth” and “improvement” foreshadow displacement.
Harlem Congregations for Community Improvement, Inc., (HCCI) integrates Lending Circles into their rental assistance and homeownership programs. They provide Harlemites with a credit-building tool to qualify for a home loan or secure a rental unit so they can stay in the community they know and love.
Loan volume
Repayment Rate
Partners
New Partners
U.S. States
Cities
KARLA – A first-time voter
When Karla became eligible for citizenship, the expensive application fee stood in her way. So she joined a Lending Circle to save toward her goal. In November, Karla voted in her first presidential election.
“When I voted, it wasn’t just for me. It was for everyone who has faced obstacles on their journey to find peace and a better life for their families. No president can take that from me.”
Lending Circles for Citizenship
Loan volume
Applicants
New citizens
MICHAEL – On a quest for a cure
When he moved to California, Michael enrolled in med school to rebuild the career as a doctor he’d had in Ethiopia. But without credit, he couldn’t get a loan. He joined a Lending Circle—he knew the practice by its Amharic name ekub. Now he’s researching breast cancer treatments at UCSF and studying for his medical boards.
“Without opportunities to come out of the shadows, people like me can’t unleash their full potential.”
Lending Circles
Loan volume
Repayment rate
First-time credit scores
DIANA – Helping other immigrants
Getting DACA in 2012 changed Diana’s life. With a SSN, she could finally get a license, live without fear of deportation, and pursue the job of her dreams. Now she works at MAF helping other immigrants emerge from the shadows.
“There’s talk of ending DACA. But DREAMers have already come out of the shadows. We can’t imagine going back. The future is uncertain, but I’m filled with hopeful resistance.”
Lending Circles for DACA
Loan volume
DACA applications
DACA permits
ISABEL – A new restaurant-owner
When Isabel first moved to San Francisco from Mexico, she started serving food out of her living room. Soon she landed a stall at the Farmer’s Market and delighted crowds with her mole verde, her mother’s recipe. But without credit, she couldn’t expand. So she joined a Lending Circle. And this summer, her restaurant El Buen Comer opened its doors.
“Lending Circles let me open my own restaurant. But more importantly, I learned to manage the financial system to open even more doors in the future.”
Lending Circles for Business
Loan volume
Client with businesses
New jobs created
“As a Council Member, I’m acting as a decision-maker for the community. That’s a role beyond my dreams. Together, we’re making our community better.”
-Santos, Client & MAC Member
Awards
“Tipping Point Community Award” and “Most Innovative Credit Building Product”
Babies
Chuy and Eggs joined the family and are now official office greeters
Buzz
100+ articles, radio and TV spots including NYT, WSJ, and TIME
MAFistas
New talent: five staff and four board members
Research
Dr. Wherry & his research team have 3 papers and a book in the pipeline
Tech
Lending Circles is going mobile with two new apps
Lending programs
$2.7M in 0% Interest Loans
Since 2008, we’ve loaned over $7M. In 2016 alone, 3,020 people took out $2.7M to save for college, grow businesses, and become citizens—all while building credit.
Fundraising
$1.7M Raised
With earned income strong and individual donations rising, we’re building a sustainable future. A $1.5M grant in 2015 from JPMorgan Chase & Co. provided vital support.