Lending Circles

RE:BUILD – LENDING CIRCLES

AGENDA

• Mission Asset Fund• The Shadows• Our Solution• Impact• Roles and Responsibilities• Leveraging Technology• Process to Become a Partner• Next Steps, Questions, Closing

MISSION ASSET FUND

We are a nonprofit organization on a mission to create a fair financial marketplace for hardworking families.

RESPECT BUILDMEET

THE SHADOWSSTUCK STRAPPEDINVISIBLE

26 million people are credit invisible 17 million adults are unbanked

Wages are flat and cost of living is up

19 million do not have enough credit history to generate a score

Average interest rates at payday lenders rage from 391% to 521%

9.5% income spent on financialservices

OUR SOLUTIONTRANSFORM SCALERECOGNIZE

Participants are financially savvy, innovative

Informal financial strategies are bona fide activities

Create programs to transform financial pain points

Build savings and credit opportunities

Use technology to increase capacity and impact

Build the nationwide network of Lending Circle providers

RECOGNIZE

susu

mabati

pandero

tanda kameti

kutuIt’s a global

practice

People come together

To lend and borrow

money to each other

LENDING CIRCLES

READY TO APPLY FOR DEFERRED ACTION BUT DON’T HAVE $465?

WANT TO MOVE INTO A NEW APARTMENT BUT CAN’T AFFORD THE SECURITY DEPOSIT?

READY TO APPLY FOR CITIZENSHIP BUT DON’T HAVE $680?

SOCIAL LOAN PROGRAMS

FINANCIAL MANAGEMENT TRAINING• Savings & Investments• Mortgages• Payment Types & Credit

Cards• Credit Scores & Reports• Insurance & Taxes• Financing Higher Education• Identity Protection• Overdraft• Retirement 101• Payday loans• Auto loans• Prepaid cards• Mobile Payments

13 INTERACTIVE MODULES:

TRANSFORM

social loans

financial

education

increased

financial

capability

INDIVIDUAL IMPACT

As of 5/1/15

INDIVIDUAL IMPACT

168Average score increase

$1,051

Less high-cost debt

100%Banked and building credit

$4.3 million

Zero-interest loans

99.42% repayment

rate

$1.1 millionSaved in fees and interest

$3.3 million

Less high-cost debt

NATIONAL IMPACT

As of 5/1/15

NETWORK APPROACH TO SCALE

LEVERAGING TECHNOLOGY

LENDING CIRCLES COMMUNITIES

Capacity(to provide &

support)

Cohesion

(mission and program

alignment)

Commitment

(> 2 year)

Community (needs / target populations)

WHAT WE LOOK FOR IN A PARTNERSHIP

Up to 5 new

partners

10 State

s

BETTER NORTHWEST INITIATIVE $250,000

Loan Volume

How do we build a better community in the BA through this initiative

THE NEXT DOOR’S STORY

The Next Door, Inc.’s 89 Lending Circle participants have generated $61,200 in social loans. With a 100% repayment rate, their clients have been able to use the Lending Circles program to purchase homes and take businesses to the next level.

Q&A

OUR FUNDERS

Annie E. Casey Foundation, Ashoka, Bank of America, Bank of the West, Capital One, Experian, Friedman Family Foundation, Goldhirsh Foundation, Marcled Foundation, SF Foundation, SF Mayor’s Office of Housing, SF OEWD, Silicon Valley Community Foundation, Thompson Family Foundation,

Walter and Elise Haas Fund, Wells Fargo

Innovators

Visionaries

Supporters

STAY IN TOUCH

MOHAN KANUNGO, Director of Programs &

Engagement

Email: mohan@missionassetfund.org

Twitter: @MAFpajarito

Office: 3269 Mission St. San Francisco, CA 94110