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.
Con la ayuda de Lending Circles, Kimberly está terminando sus estudios universitarios y prepara sus solicitudes para la escuela de derecho mientras ayuda a su madre y hermana a hacer crecer el negocio familiar de tamales.
Take a look back on what you helped build in 2015 - and get a sneak peak at what's next!
Una conversación con un miembro fundador nos da un vistazo a como un nuevo consejo guiado por miembros contribuirá al programa Lending Circles.
A conversation with a founding member paints a picture of what a new member-driven council will contribute to the Lending Circles program.
as seen in
Tener un historial crediticio en este país puede abrirle las puertas a nuevas oportunidades financieras, pero, ¿qué se puede hacer cuando nos niegan algún producto financiero por tener mal crédito?
The success of Lending Circles reinforces the importance of knowing your clients holistically in order to serve their needs with consumer-focused delivery. The program tapped into an already existing social practice among immigrant communities, who often pool money for financial support.
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.
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.
Sign up for our email list
We’ll fill up your brain (but not your inbox) with interesting stories, the latest news and ways to stay involved.
Connect with us! Find out what we're up to and how you can be involved!
Investing $100 generates $4,000 in social loans helping families build credit and a better future.donate