AFFINITY GROUP LENDING FOR CONSUMERS


Our Affinity Group Lending Program for Consumers (“AGL”) provides credit building loans and credit counseling to group members with similar financial needs seeking to establish consumer credit.  This product is tailored for first-time consumer borrowers or those who aim at increasing existing financial capacity.

 

How It Works

Build a Group:  Existing networks of 6-15 individuals approach FINANTA to begin the process of participating in AGL.  These networks are typically informal, and may share community, cultural, family, friendship, or other connection.

Build a Financial Action Plan:  Each group member works one-on-one with a lender to create an individual Financial Action Plan aimed at improving or establishing credit to reach specific financial goals.

Receive a Loan:  Each group member receives a loan ranging from $1,200 to $3,600 on the first borrowing cycle or more depending on personal financial  capacity.  Each cycle is at least 12 months, the term necessary to address credit issues, establish credit, or increase credit scores.

Build Financial Skills:  Our lenders organize group workshops throughout the year covering core topics such as best financial practices, credit building, financial literacy, personal budgeting, smart borrowing, and utilizing banking effectively.

Complete Loan Repayment:  Group members complete loan repayment by the end of the year-long cycle, graduating with a better understanding in personal finances.

Additional Cycles and Larger Loans: Upon graduation from a cycle, group members may choose to enter into additional cycles, increasing loan amounts each time.  As group members build a credit track record, they may also access our additional loan products and services individually.

 

Elhadji Circle image for site

  “I was amazed by their product. They really reach out into the community and help people become more economically self-sufficient. They pick people up and coach them until they are financially literate.”
 – Elhadji Ndiaye, Owner of Radio XALAAT

Program Benefits

 

$1,200 – $7,200 Credit Building Loans

Build personal credit, prepare and save to buy a home, or simply use the funds to purchase essential goods. 

No Minimum Credit Score Required

We can help you establish, increase or repair credit as necessary.

Financial Capacity Building

Borrow more with each loan cycle as you increase credit scores and build better financial skills.

Financial Skill Building Workshops

Learn the basics of personal budgeting, credit, and finances from experts on the subjects.

Networking & Referrals

Network with peers and get referred to additional resources to help your family and personal financial growth.