Why It Is Important

In the United States, an excessive 20% of households are financially underserved, and 7% are not served by mainstream financial systems.  That is more than 26 million households and families being excluded from traditional banking.

In the Philadelphia region, this problem is exacerbated by a poverty rate that is significantly higher than the national average at 25%.  This rate is even greater among minorities, immigrants, and women.  Without access to capital, these populations are susceptible to predatory lending to buy a home, purchase essential goods, or run a business.

WE believe in uplifting our financially underserved consumers, entrepreneurs, and homebuyers in our communities.

OUR lenders know how to approach the cultural, language, and social challenges many of our clients encounter, allowing to effectively deploy financial services to the unbanked and underbanked.  Because of this attentive, hands-on, and unique approach to access to capital and financial counseling,  we have averaged less than 1.2% loan loss since 1996, lower than traditional banking industry’s average.  OUR programs are designed to strengthen borrowers’ credit and financial capacity, providing them with the FINANTA resources they need to build credit, receive additional and larger loans, or approach mainstream banking services of their choice. 

FINANTA’s Impact