Lending Circles for Deferred Action Expands in LA

Written by lending8 on December 16, 2014.

Bringing financial support to immigrants seeking Deferred Action

With President Obama’s recent announcement on Deferred Action, the need to focus our attention on the financial needs of immigrant communities is greater than ever. New reforms enable an additional 5 million immigrants the potential to apply for Deferred Action. Having already harnessed partnerships in 10 states and D.C to offer credit-building opportunities, MAF is ready to do the same for those now looking to apply for this new program.

Thanks to a generous grant from the Roy and Patricia Disney Family Foundation, MAF will be partnering with the Mexican American Opportunity Foundation (MAOF), Korean Resource Center and Pilipino Workers Center to expand its award-winning Lending Circles program for individuals seeking Deferred Action in the Los Angeles area.

The Lending Circles for Deferred Action program will allow 300 eligible applicants access to zero-interest loans to finance the cost of the Deferred Action application fee by 33% (from $465 to $310) while also building their credit.

MAF has already seen the impact of getting Deferred Action with our own clients in the San Francisco Bay Area. In our seven years of operations, we have assisted over 300 clients in successfully applying for Deferred Action. Members like Itzel and Jesus have used Lending Circles to move towards their goals of accessing an affordable education and becoming advocates in the community.

“MAOF is excited to expand its current relationship with Mission Asset Fund by offering the Lending Circles for Dreamers Program,” says Martin Castro, President and CEO of the Mexican American Opportunity Foundation.

“As a distinguished agency serving the Los Angeles Community, MAOF is looking forward to offering a program that will assist people who have arrived into our country as children and are looking to pursue their dreams. The Lending Circles for Dreamers Program brings needed assistance to residents of Los Angeles who would like to apply for deferred action but have not due to financial hardships.”

Tune into the National Immigrant Integration Conference in LA today at 11:45 a.m. to hear the formal announcement by our Director of Engagement, Mohan Kanungo, and CEO, Jose Quinonez.