Affinity Group Lending
FINANTA’s Affinity Group Lending Program offers microloans and credit building services to groups of borrowers, and is tailored to the needs of entrepreneurs or consumers.
FINANTA offers an Affinity Group Lending Program for entrepreneurs, consumers, and homebuyers to build their financial capacity, bankability, and creditworthiness through financial education and coaching, technical assistance, and access to capital.
This innovative program is modeled after a traditional practice known globally as Tandas, Tontin, Roscas, and Susus, that brings community members together to create and rotate pools of money. FINANTA formalizes this practice by using its loan capital and reporting payments to credit bureaus.
“I was amazed by their product. They really reach out into the community and help people become self-sufficient. They pick people up and coach them until they are financially literate.”
How It Works
Like the Philadelphia region it serves, FINANTA’s borrowers are diverse.
FINANTA is proud to support women business owners in Philadelphia and surrounding counties.
Affinity groups come from all over the Philadelphia region and members are primarily immigrants.
100+ Borrowing Cycles
Since 2011, affinity groups have borrowed in over 100 cycles at FINANTA.
FINANTA has provided 800 microloans to affinity group borrowers.
$4.4 Million Invested
FINANTA has invested $4.4 million in affinity groups for entrepreneurs, consumers, and first-time homebuyers.