March 6, 2015 FINANTA Luis Mora 267-236-7001.

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Presentation transcript:

March 6, 2015 FINANTA Luis Mora

FINANTA: FIN ancial AN d TA:  Mission driven nonprofit lender  In business since 1996  Facilitate access to capital, TA, and affordable commercial / office space  Philadelphia and surrounding counties  Loans from $400 to $3.3 million

FINANTA  $41 million in loans (910 loans / 605 borrowers)  We serve:  Micro & Small Businesses  First-Time Homebuyers  First-Time Consumer Borrowers  Nonprofits  We are a CDFI/CDE, PHFA lender, & PA CDFI  Among top 5 SBA Microlenders in the country  FiCDC

Activity Since 2010 Total Lending – $11.4 million, 613 loans (6 consumer loans $7,200) BIZ > $50K 21 loans / $4 million MORTGAGES 32 loans / $2.7 million PRECAPS 475 loans / $3 million BIZ <= $50K 85 loans/ $1.7 million Lines of Credit 9/$200,000

PRECAPS Groups (PGs) Overview  Founded in 2011, PGs is based on the affinity group model where members access their own capital, popular in other countries and in the USA by immigrant groups  The FINANTA model provides group members access to individual microloans in cycles with technical assistance emphasizing credit building, accounting and marketing  PGs targets affinity groups tied by culture, geography, family, or industry

Case Study – Los Cumplidos  Latino grocery and multi-service store owner  Loans began at $1,700 in Cycle #1 and $15,000 in Cycle #4 Los Cumplidos’ Antonio de Leon in his business, Josue Grocery, located in West Kensington

Case Study – Woodland African Unity  West African variety stores located on Woodland Ave in SW Philadelphia  Loans began at $763 in Cycle #1 to $15,000 in Cycle #4 Woodland African Unity group members

WOODLAND AFRICAN UNITY – GROUP SUMMARY, FEB 2015 # 1st Cycle 2nd Cycle 3rd Cycle 4th Cycle Total Loaned Loan Growth Rate Income Status W/MBE Initial Score Current Score Change in Score 1 $1,000$2,500$5,000$15,000$23,500147% Very LowM $500$2,500$5,000--$8,000216% Very LowW/M (8) 3 $1,000$2,500$5,000 $13,50071% ModerateM $1,000$2,500$5,000$15,000$23,500147% ModerateW/M $2,500$5,000$15,000$22,500145% Extremely Low W/M $500$2,500$5,000$15,000$23,000211% Very LowW/M (19) 7 $500$2,500$5,000$15,000$23,000211% LowM (170) 8 $1,000$2,500$5,000$15,000$23,500147% Very LowM $1,000$2,500$5,000$15,000$23,500147% Very LowW/M $1,000$2,500$5,000$15,000$23,500147% Very LowW/M $1,000$2,500$5,000--$8,500124% LowW/M $2,500$5,000$15,000$22,500145% LowW/M $8,500$30,000$60,000$140,000$238, (3)

Our Partners NALCAB TD Bank Bank of America CDFI Fund Citibank Citizens Bank Philadelphia Commerce Department Philadelphia Foundation National Penn Bank Small Business Administration Tides Foundation Wells Fargo