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$2,500,000+ FUND TO HELP DREAMERS
RENEW DACA BY OCTOBER 5
San Francisco, CA – September 22, 2017 – Mission Asset Fund (MAF) today announced it has surpassed its original fundraising goal and will now be able to provide $2,500,000 in scholarships to 5,000+ Dreamers to pay for DACA renewals by the October 5 deadline.
Early this month, the Trump administration announced that the Deferred Action for Childhood Arrivals (DACA) Program is ending. DACA has provided security, safety, and a livelihood for 800,000 young people commonly known as “Dreamers.” Of the 154,000 Dreamers eligible to renew their DACA permits before the program ends in six months, most will be able to cover the application costs themselves. For those Dreamers who are eligible for renewal but can’t afford the $495 application fee, MAF is stepping in with a solution now available nationwide: scholarships to help Dreamers renew their DACA status (LC4DACA.org).
Between now and the October 5 deadline, MAF will provide 5,000+ Dreamers with scholarships of $495 to renew their DACA permit. 3,000+ scholarships across the United States have already been issued to DACA recipients through this fund. Dreamers are urged to not delay – sending in their applications before the October 5 deadline is crucial – get a scholarship in 48 hours at LC4DACA.org. Capital to finance these scholarships come from the DACA Renewal Fund, launched earlier this month with growing support from the philanthropic community.
“We were shocked and horrified to learn that President Trump ended DACA,” says José Quiñonez, MAF’s CEO and 2016 MacArthur “Genius” Fellow. He added, “We sprang into action once we saw a small window of opportunity to help thousands of Dreamers to renew their protective status. The time to help these young people is now.”
DACA recipients with a permit expiring between now and March 5 across the nation are eligible to receive the scholarships. As time is of the essence, this online scholarship will be processed within a day, with same-day checks available in San Francisco and by overnight mail in other parts of the country.
MAF has a long history of working with Dreamers and has helped hundreds to pay for DACA application fees using a 0% interest loan. This initiative—offering scholarships within 24-48 hours to Dreamers—builds on this track record of success. DACA recipients with expiring permits are encouraged to visit LC4DACA.org and apply immediately.
Philanthropic supporters of this fund include: the Weingart Foundation, The California Endowment, The James Irvine Foundation, The Marin Community Foundation, The Klarman Family Foundation, The Crankstart Foundation, The Chavez Family Foundation, The San Francisco Foundation, The Department of OCEIA in SF, and from the generosity of individual donors across the country.
About MAF
Mission Asset Fund (MAF) is a 501c3 nonprofit on a mission to build a fair financial marketplace for all. Over 7,000 people across the country have used MAF’s award-winning financial services programs to increase credit scores, pay down debt, and save for important goals like becoming a homeowner, a student, or a U.S. citizen. MAF currently manages a national network of over 50 Lending Circles providers in 17 states and Washington, D.C.

New Board Members MAF

 

Earlier this year, MAF had the pleasure of welcoming three new members to our Board of Directors. Read on to find out who they are, where they’re from, and what inspired them to join the board — from the cutting-edge technology driving Lending Circles to our innovative model for building financial capability.

Meet DaveDave Krimm MAF Board

Dave Krimm is a seasoned financial services professional, with a passion for the “positive impact of microlending: the difference that a small loan can make in an individual’s or a family’s success.” His experience working as a financial product development consultant and leading fundraising and marketing at the San Francisco Foundation make the MAF Board a perfect match for Dave.

Dave is no stranger to nonprofit boards.

Most recently he served as Chair of the Opportunity Fund Board in San Jose, California, where he helped oversee an exciting period of growth for the organization. Now, he’s eager to bring his talents to a nonprofit rooted in his home of San Francisco. When asked what he’s most excited about in his new role, Dave shared that, “I’m looking forward to strengthening MAF’s ‘support team’ on the Board, to match the broadening impact of MAF’s programs locally and the expansion of our nationwide network.”

Meet Salvador Salvador Torres MAF Board

Salvador Torres is well acquainted with the informal lending and borrowing that happens on the margins, and he’s eager to uplift MAF’s work making the invisible, visible. Salvador shared that, “My family members have used lending circles to share resources, but they rarely went beyond close family ties and didn’t help build credit. Now with MAF’s Lending Circle products and partners, people around country are able to access capital and build the credit necessary to transition into the financial mainstream.”

He knows just how crucial financial health is for building strong, resilient communities.

Salvador spends his days working in Washington, D.C., as an investment banker and consultant at Penserra and 32Advisors, where he helps companies build growth strategies. He’s also served as an Advisory Board Member of the Posse Foundation, a college access organization, where he saw firsthand how close-knit social circles — “posses” — could transform the lives of students and their communities.

Stephan Waldstrom MAF Board - CopyMeet Stephan

Stephan Waldstrom hails from Belgium (via Denmark), and is the Director of Risk and Product Development at RPX Corporation, a risk management company based in San Francisco.

Stephan is passionate about all things product development.

And he’s ready to use that passion to give back to his community. Stephan believes that “MAF has found a simple yet powerful model that can significantly improve the financial security of its members and potentially countless people across the U.S.” A product guru at heart, Stephan is excited to get his hands dirty helping MAF develop the first-ever Lending Circles mobile app, a new tool that will connect clients with on-demand loan information. In addition to his Board seat, Stephan is lending his expertise as a member of MAF’s Technology Advisory Council — which helps guide the design of the technology that powers MAF’s programs.

We’re happy to welcome Dave, Salvador, and Stephan to MAF’s board.

And we’re grateful to them for sharing their collective skills and talents to as we chart new courses — from the mobile app, to our Lending Circles Summit, to new research shaping our understanding of financial health. Adelante!

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