Leveraging our communities’ strengths and innovations, Lending Circles programs offer zero-interest, credit building loans alongside financial education to help clients save money, pursue financial goals, and increase overall financial health.
Over the years, we’ve partnered with some incredible organizations who provide Lending Circles directly to their local communities.
Leaders like Aquilina Soriano at Pilipino Workers Center, one of our first Lending Circles’ partners, who has tirelessly advocated for labor protections for the Filipino immigrant community.
Leaders like Rosa, a Dreamer, advocate, and aspiring lawyer who bravely shared her own story with us, forcing us to challenge one-dimensional narratives about the immigrant community.
Leaders like Nora, who is making strides towards achieving financial security and becoming a homeowner again, after losing her home and business during 2007 financial crisis.
Now, we’re looking to deepen our impact in Southern California and grow the Lending Circles provider network!
Financial exclusion – the lack of access to basic banking services and credit – is a pervasive and costly issue for low-income individuals across the country. Without bank accounts or credit scores, these communities are locked out of the financial system, preventing them from building a life of safety and security for themselves and their families. The Consumer Financial Protection Bureau’s (CFPB) reports that 45 million adults are invisible to the credit markets.
MAF and a nationwide network of nonprofits are working together to end this vicious cycle. In 2008, MAF launched Lending Circles — a zero-interest, credit building social lending program — as an innovative strategy to build credit and assets among low-income communities. Over the past decade, more than 11,000 participants have received over $10 million in zero-interest loans (with close to zero defaults!), empowering them to build credit and reach their financial goals.
We’re in search of nonprofit organizations in Southern California who are interested in partnering with MAF to offer Lending Circles to their local community. There is no such thing as a typical Lending Circles partner. We welcome applications from nonprofits serving diverse communities with diverse missions. Those who can demonstrate a clear programmatic fit and for whom the Lending Circles program acts as a complement to their current work will be the best candidates for partnership.
Thanks to our sponsors, selected applicants will receive the following benefits – an estimated value of up to $63,000.
Applicants must be an established 501 C(3) non-profit organization in Los Angeles, San Bernardino, Ventura, Orange, and Riverside Counties.
All applications are due by Friday, July 26 at 5pm PDT (late submissions may not be considered). Please submit online here. Selected organizations will be announced on September 3rd.
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Submit an application by July 26th at 5pm PDT