through Affinity Group Lending Facilitating Access to Capital and Economic Development through Affinity Group Lending HEATHER HANOWITZ VICE PRESIDENT amp SENIOR LOAN OFFICER PICDC PANEL MODERATOR ID: 1033512
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1. Facilitating Access to Capital and Economic Development through Affinity Group Lending
2. Facilitating Access to Capital and Economic Development through Affinity Group LendingHEATHER HANOWITZVICE PRESIDENT & SENIOR LOAN OFFICERPICDCPANEL MODERATOR Jill C. Fink Executive DirectorThe Merchants FundSonia Smith Economic Development/Lender Relations/Public Information SpecialistSmall Business Administration (SBA) Steve Kuzmicki Economic Development Project Manager Southwest CDCKersy Azocar Sr. VP of Microlending FINANTA
3. FINANTAOUR MISSION:Founded in 1996, FINANTA is a mission-driven nonprofit lending institution facilitating access to capital and consultation services to entrepreneurs, first-time homebuyers, and consumers.We accomplish our mission by lowering the barriers that keep people from accessing the capital to build assets and evolve financially.
4. ProgramsAffinity Group Lending Business, Consumer, First-Time HomebuyerIndividual Lending Business, Consumer, First-Time HomebuyerTechnical Assistance Financial Counseling and Coaching, Credit Builder LoansCommunity Development FinancingMission driven real estate development
5. What Problem do we solve?In the United States, more than 26 million households and families are excluded from Traditional Banking
6. Our Solution: Create a Pathway for Capital Access
7. TRADITIONAL ROSCA OR LENDING CIRCLES Short for ROtating Savings & Credit AssociationPeople in an Affinity Group, or Peer Lending Circle use their own money to lend it to each other in a rotating basis. It does not build credit or provides access to a financial entity.7
8. Affinity Group Lending: OUR APPROACHGroups of Up to 15 individualsStarting at $1,200 or $3,600 12 month / 9% fixed loanBuild capacity to access up to $25,000 / 24 month in in several borrowing cycles Clients can graduate to up to $250,000 loans
9. Ella Emprende
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11. CREDIT BUILDING & T.A.Client-Centered Financial Action Plan(FAP)Increase knowledge of creditBuild, manage, and increase a credit scoreBuild financial capacity to access capitalAveraging 240 hrs of entrepreneurial capacity building by cycle 5Up to 30hrs of TA preparing to borrow
12. PARTNERSHIPS & COLLABORATIONS
13. Small Business Administration (SBA)Sonia Smith Economic Development/Lender Relations/Public Information SpecialistSmall Business Administration
14. The Merchants FundJill C. FinkExecutive DirectorThe Merchants Fund
15. Southwest CDC Steve Kuzmicki Economic Development Project Manager Southwest CDC
16. Facebook: https://www.facebook.com/Finanta.orgTwitter: https://twitter.com/finanta_LinkedIn: https://www.linkedin.com/company/finanta/CONNECT with us!