FINANTA’s generous donors make a real difference in communities and commercial corridors in and around Philadelphia by supporting critical financial programs for entrepreneurs, consumers, and homebuyers.
Why Support FINANTA
FINANTA Contributes to Economic Growth
Providing capital for small business expansion is essential to economic growth. FINANTA promotes the growth and expansion of commercial corridors through the infusion of capital and the provision of business technical assistance and consultation services. Since 1996, FINANTA has contributed to the creation and/or retention of over 1,500 jobs. The small businesses served by FINANTA have averaged 93% minority-owned and 45% women-owned.
FINANTA Trains and Coaches Clients
Through a gradual training and coaching process that includes access to capital, technical assistance, and financial literacy services, FINANTA supports clients by improving their financial well-being and creditworthiness. This helps clients learn to navigate the traditional financial system and reduce their dependency on alternative and often costly financial services such as check cashers and predatory lenders. Since 1996, FINANTA has provided over 40,000 hours of hands-on technical assistance and training to clients.
FINANTA Offers Inclusive, Innovative Programs
FINANTA’s affinity group lending program resembles an informal financial practice known around the world as Roscas, Susus, Tandas, and more. FINANTA makes this practice formal and molds it to the specific needs of entrepreneurs, consumers, and homebuyers. Since 2011, FINANTA has invested $4.4 million in 52 affinity groups. FINANTA’s innovative programs are offered alongside multilingual services in English, Spanish, Portuguese, Swahili, and Cambodian.
FINANTA Empowers Financially Underserved Groups
FINANTA’s clients are 93% low-income, 90% racial minority, 69% immigrant, and 43% women and face capital access barriers related to their socioeconomic status, race, gender, and/or immigration status. These barriers may include insufficient credit histories among low-income clients, the systemic financial exclusion of minority and women clients, and limited-English proficiency among immigrant clients.
FINANTA Has A Positive Impact On The Community
FINANTA promotes the well-being of diverse communities by encouraging homeownership and stimulating blight reduction. FINANTA capital has facilitated the rehabilitation of 43 residential and commercial units in North Philadelphia and enabled 50 homebuyers to purchase their homes, spurring the asset growth of financially underserved populations.