Mission Asset Fund - Lending Circles and Loans for Financial Fairness

Our vision is to create a fair financial marketplace for hardworking people. Because when one person is invisible, stuck or strapped, it hurts an entire family. And when one family suffers, the whole community suffers. That’s why we work to make Lending Circles and other loan products available nationwide. Our work is built on hidden strengths: of people, of nonprofits, of communities.

Benefits

Leverages user-centered design principles to expand programs nationwide
Made-easy navigation of the financial marketplace
Recognize and promote the resilience of low-income communities

Main Features

Lending Circles 0% interest credit-building loans
Business development programs
Immigration programs
Financial education

Primary Audience

Low-income advocacy organizations
Immigration agencies and non-profits
Entrepreneurs

Learn More

Helping Immigrants Establish Good Credit

Thirty-five years later, he helps new waves of immigrants and low-income families help one another as CEO of Mission Asset Fund, launched in 2007 in San Francisco’s Mission District, where 44% of households had no credit histories. The fix: Formalize the traditional lending circles known as tandas so payments can be reported to credit bureaus.

Genius Grant Goes to Help Immigrants Build Credit

One of this year's recipients of the MacArthur Foundation's "genius grants" is Jose Quinonez. He's being recognized for his work connecting low-income immigrants to mainstream financial services. Quinonez's nonprofit organization, the Mission Asset Fund, tracks informal loans and helps new Americans build credit history.

José A. Quiñonez

CEO

Mission Asset Fund

José A. Quiñonez

CEO

Mission Asset Fund

By reporting to credit bureaus, we’re helping people establish or improve their credit scores so that they then have the ability to do whatever they need to do in their lives, whether it’s rent an apartment, or buy a house, or buy a car, get a loan to start a business, or whatever it is they want to do. Now they have the tool to actually become economic actors in our system.

Sheneise

CA College Student Grant Recipient