“MAF is like a financial version of a potluck dinner: Everyone contributes something of their own, but each individual also benefits from what everyone else brings to the table.”
Isa Hopkins, Grist
Congratulations to the Better Bay Area awardee organizations!
• Brown Boi
• Building Skills Partnership
• Game Theory Academy
• OBDC Small Business Finance
• Peninsula Family Service
• Renaissance Entrepreneurship Center
• The Unity Council
• Veterans Equity Center
GOOGLE IMPACT CHALLENGE
Better communities start with MAF.
Millions live in the financial shadows
When hardworking families can’t get car loans or own homes, they turn to payday lenders and check cashers to make ends meet. High cost fringe financial services trap people in a cycle of debt, preventing hardworking families from realizing their true economic potential.
54 million people are without access to affordable credit. 17 million people don’t have access to bank accounts.
1 in 4 families turn to fringe financial services for their daily needs.
Being invisible costs more. Payday lenders charge 391% to 521% interest for payday loans.
We meet hardworking families where they are.And then, we build on what they have.
the solution is simple
The solution can be found in the hidden strengths of communities across the country. People come together to lend and borrow money with each other. We connect this practice with the financial system so that borrowers can build credit and a brighter future.
People lend and borrow with each other all the time. We recognize this practice and use credit reporting to make it visible.
We help people navigate the financial marketplace and develop programs that transform everyday financial practices into savings and credit building opportunities.
We use technology to expand our programs nationwide. With a network of nonprofit providers, we are able to help low-income people across the country.
Financial inclusion is about respecting people for who they are, meeting them where they are, and building on what's good in their lives.
Southwest Solutions, JPMorgan Chase & MAF launch peer Lending Circles to boost credit scores of Detroit residents.
From finding your next great relationship to paying for a special night out, having good credit is important.
Jose Quinonez, CEO of MAF, announces a three-month sabbatical, sponsored by O2 Initiatives.
as seen in
Southwest Solutions, J.P. Morgan Chase & Co. and MAF announced Thursday that they have launched a zero-interest loan program for Detroit residents.
Southwest Solutions, JPMorgan Chase and Mission Asset Fund Launch Peer Lending Circles to Boost Credit Scores of Detroit Residents
Southwest Solutions, JPMorgan Chase & Co. and Mission Asset Fund (MAF) today announced the launch of Lending Circles, a new social loan program that will allow Detroit residents to safely build credit through zero-interest loans.
Access to affordable credit is vital. But multiple studies have shown that getting credit is harder when you are black. At the Mission Asset Fund in San Francisco they are working to fix that.
Mission Asset Fund, a Californian non-profit group, assists informal savings groups in immigrant communities.
It’s not enough to feel good about the work we do. We care about having a real, tangible impact. That’s why we validate our programs through third party-research. This way, we measure our impact and use data to improve our programs.
We believe everyone deserves a shot at success. Join us in making the financial system work for everyone.
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Investing $100 generates $4,000 in social loans helping families build credit and a better future.donate