FINANTA is a nonprofit lending institution facilitating access to capital and consultation services for entrepreneurs, consumers and first-time homebuyers in the Philadelphia region. FINANTA aims to promote the growth and economic expansion of diverse communities and commercial corridors through the infusion of capital and the provision of business, consumer and homebuyer consultation services and technical assistance, in a manner that is uniquely conscious of the cultural, social and language barriers that growing immigrant and minority populations face. FINANTA serves: Berks, Bucks, Chester, Delaware, Lancaster, Montgomery and Philadelphia Counties in Pennsylvania; Camden County in New Jersey; and the State of Delaware.
AFFINITY GROUP LENDING (AGL)
FINANTA’s Affinity Group Lending (AGL) Program mirrors traditional lending circles around the world, known in different countries by the names of Tandas, Tontin, Susus, Sans or Cadenas. AGL provides small dollar character-based loans to entrepreneurs and consumers in a group setting. The group is the mechanism that enables participants to obtain a loan. AGL leverages the existing relationship and affinity between group members, which could be based on being part of the same business association, industry, committee, community group, friends or family, to deploy the technical assistance and capital to the group and to each of its members. AGL members participate in financial workshops to achieve their individual financial goals. The workshops capacitate in business growth and development, home ownership and other needs. Business microloans range from $1,200-$3,600 in cycle 1 to $20,000 in cycle 5.
BUSINESS & CONSUMER LOANS
FINANTA business and consumer loans target first time borrowers and established businesses poised for growth, yet unable to secure bank financing. They offer customized loan products and fair transparent terms to enable these businesses to scale up, revitalize economies, create community jobs and become bankable. They offer microloans, small business loans, lines of credit and accounts receivable financing.
FINANTA provides mortgages, homeownership and credit counseling to first time homebuyers. FINANTA lenders will work with you to determine an approach to best suit your needs, and the same lender will be with you from the initial meeting, through training, application, underwriting, home purchase and thereafter as necessary. Their goal is to help you build capacity to make accurate and informed decisions when applying to and buying your family home.