Affinity Group Lending

Are you part of a lending circle and want to formally borrow? FINANTA’s affinity group lending provides small loans, credit building, and technical assistance to groups of borrowers with similar financial needs. This program is tailored to the needs of entrepreneurs, consumers, or homebuyers.

 

 

About

FINANTA offers affinity group lending for entrepreneurs, consumers, and homebuyers to build their financial capacity, bankability, and creditworthiness through financial education and coaching, technical assistance, and access to capital.

These innovative programs are modeled after a traditional practice known globally as Tandas, Tontin, Roscas, and Susus, that brings community members together to create pools of money, with each group member contributing a small amount each month and the group rotating who receives the pool of money.

FINANTA formalizes this practice by using its capital and reporting payments to credit bureaus. FINANTA supports borrowers through five loan cycles of increasing capital in affinity groups.

“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.”

Elhadji Ndiaye, Owner of Radio XALAAT and immigrant from Senegal

How It Works

1. Form an Affinity Group
2. Build a Credit Action Plan
3. Receive a Loan
4. Build Financial Skills
5. Complete Loan Repayment
6. Additional Cycles and Larger Loans

Program Benefits

$1,200 to $25,000 Credit Building Loans
Infuse your business with capital, build credit to buy a home, or purchase essential goods.

No Minimum Credit Score Required
FINANTA can help you establish credit if you do not already have any, and improve credit in need of repair.
Financial Capacity Building
Borrow more each loan cycle as you increase your credit score and improve your financial skills.
Financial Skill Building Workshops
Learn the basics of business, personal, or homebuyer finance and credit building from certified experts.
Networking & Referalls
Network with peers and get referred to additional helpful resources.

Program Impact

97% Minority

Like the Philadelphia region it serves, FINANTA’s borrowers are diverse.

50% Women

FINANTA is proud to support women business owners in Philadelphia and surrounding counties.

52 Groups

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.

800+ Microloans

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.