AFFINITY GROUP LENDING

Affinity Group Lending

Affinity Group Lending (AGL) provides individual loans, credit building, and technical assistance to members of a group who have similar financial needs and seek to establish credit.  This product is tailored to the needs of entrepreneurs. 

How It Works

Form a Group: Networks of 6-15 individuals approach FINANTA to begin the process of borrowing. Networks are typically informal, and may share industry ties, geographic locations, family, or cultural connections.
Build a Financial Action Plan (FAP): Each group member works one-on-one with a lender to create an individual FAP aimed at improving or establishing credit and reaching financial goals. 
Receive a Loan: Each group member receives an individual loan ranging from $1,200 to $25,000 depending on personal and business capacity and history with FINANTA. Group members guarantee each other.
Build Financial Skills: FINANTA lenders organize group workshops throughout the year covering core topics such as bookkeeping, marketing, and credit building, while also delivering one-on-one assistance to address individual needs.
Complete Loan Repayment: PRECAPS members complete loan repayment by the end of the year-long cycle, graduating with a better understanding of personal and business finance. 
Additional Cycles and Larger Loans: Upon graduation from a loan cycle, group members may choose to enter into additional cycles, increasing loan amount each time. Individuals may also access FINANTA’s additional products and services outside of their affinity group.

 

Elhadji Circle image for site

“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

Program Benefits

 

$1,200 – $25,000 Credit Building Loans

Infuse your business with capital, help build credit to buy a home, or use the funds to purchase essential goods. 

No Minimum Credit Score Required

FINANTA can help you establish credit if you do not already have, and improve credit in need of repair.

Financial Capacity Building

Create and implement a Financial Action Plan to establish, improve, or increase credit, and borrow more with each loan cycle as you demonstrate and build capacity.

Entrepreneurial & Financial Skill Building Workshops

Learn the basics of personal finance, bookkeeping, marketing, and credit scores.

Networking & Referrals

Network with peers and get referred to additional resources to help you business, family, or personal capacity grow.