COPY of the Press Release from the United States Small Business Administration
The U.S. Small Business Administration certified FINANTA to expand its microbusiness technical assistance and loan making to Chester, Montgomery, Delaware, and Berks Counties in Pennsylvania. FINANTA currently provides microlender services to entrepreneurs in Philadelphia, and in Bucks County through their partnership with the Womens Business Forum. Finanta collaborates with ASSETS Lancaster in Lancaster, and LAEDA in Camden, New Jersey.
FINANTA has disbursed over $4 million in business microloans to individuals and affinity groups, said Luis E. Mora Rechnitz, president of Finanta, with the SBAs microloan program we are excited to deliver financial products and services, including business loans, coaching, and technical assistance to the suburban counties surrounding Philadelphia.
Creating access to capital for Eastern Pennsylvanias small businesses is a very important role for the U.S. Small Business Administration, stated Tony Leta, director of SBAs Eastern Pennsylvania District. In SBAs efforts to help small businesses across the nation, SBA certified microlenders such as FINANTA play an important role as partners to provide capital with the provision of technical assistance and business consultation services to emerging entrepreneurs.
U.S. SBA Mid-Atlantic Regional Administrator Natalia Olson-Urtecho and Eastern Pennsylvania Director Tony presented FINANTA Founder Luis Mora with a plaque of recognition for FINANTAs achievements in uplifting underserved communities. This goes alongside FINANTA receiving the U.S. SBA Jody C. Raskind Lender of the Year award 2016.
FINANTAs dedication to serving the most underserved and economically disenfranchised markets, its innovative approach to peer lending… and its intensive focus on technical assistance activities embodies the essence of Jody C. Raskinds legacy a legacy of providing hope and opportunity to millions of people in this countrys most underserved markets
The U.S. Small Business Administration.
The Small Business Administration has awarded the “Jody C. Raskind Lender of the Year Award” to FINANTA. The Award is presented annually to a mission-driven lender that has demonstrated extraordinary commitment to the creation, growth, and expansion of small businesses in underserved markets with a demonstrable impact on the communities it serves.
FINANTA, a Community Development Financial Institution (CDFI), has served the Philadelphia region since 1996, and continues to empower residents and entrepreneurs through its lending and technical assistance services. FINANTA has distinguished itself by developing programs and services that are acutely conscious of the cultural, social, and language barriers many of its clients encounter. Over the past 20 years, our portfolio has come to reflect the diversity of the contemporary Philadelphia region: from immigrant, family-run micro-enterprises to real estate developers and cutting edge designers, as well as, other nonprofit corporations.
FINANTA supports entrepreneurs and promotes innovative social and civic ideas by providing access to capital and business consultation services, including technical assistance focused on financial education and credit building. This approach fosters a culture of entrepreneurship creating thousands of jobs and opportunities, encouraging investment in local businesses and neighborhoods, and making our region a dynamic hub for economic development.
We are honored to be recognized for our work and achievement. We plan to continue our growth and impact into the future, serving even larger numbers of entrepreneurs, and expanding into new markets.