In America about 7% of households don’t have access to a checking account or a savings account. They’re completely outside the financial mainstream. When hard-working families can’t get car
loans or own homes, they turn to payday lenders and check cashers to make ends meet. Expensive fringe financial services trap people
in a cycle of debt, preventing hardworking families from unlocking their full economic
potential. Through Lending Circles, Mission Asset Fund
has a simple idea – empower people to help other people. By providing zero-interest loans through a
nonprofit network, Mission Asset Fund has enabled low-income individuals to save for
college, grow businesses, and apply for citizenship. Combining technology and the power of community,
Lending Circles has given 6,300 participants access to $6.2 million in loans. The model has begun to scale across the U.S.
by being licensed to other nonprofits, helping people not only become a part of society, but make a substantial positive impact in their lives.