$1.5M Chase Grant Takes MAF to Next Level

JPMorgan Chase invests $1.5 million in MAF to expand Lending Circles further, faster.

I’m thrilled to announce that JPMorgan Chase recently awarded MAF a $1.5 million, three-year grant to expand our signature Lending Circles program even further across the U.S. JPMorgan Chase is leading the financial capability field by making significant, long-term grants to build the capacity of nonprofit organizations at the forefront of providing meaningful services to consumers in the financial shadows.

We are grateful for their generous grant, which will allow MAF to bring lasting and positive impact to people’s financial lives by expanding our zero-interest Lending Circles across the country. Our work with JPMorgan Chase gives us great confidence as we prepare to scale this model to low-income communities throughout the country.

MAF is on track to more than double our network of Lending Circles providers over the next three years, building a critical mass of partners in key regions across the country: from New York, Chicago, and Miami, to Denver, Los Angeles and San Francisco. We’ll also develop new technology to connect Lending Circles participants with on-demand loan information.

To you, our friends and colleagues, thank you for supporting us in this exciting time of growth. We can’t wait to share stories from the thousands of parents, students, and entrepreneurs working hard to build more secure financial futures thanks to this grant.