UAC Hosts Workshop on Lending Circles

Date: 
May 15, 2012

Attention all financial educators and organizations that promote financial stability, the Urban Affairs Coalition (UAC) will present a workshop and brown bag lunch on ROSCA Lending Circles, the practice that allows cohorts to lend to each other to help achieve their financial goals. The discussion, hosted by UAC’s Community and Economic Development department, Financial Education Subcommittee, will take place on Thursday, May 17, noon- 1:00 p.m., at the Urban Affairs Coalition (1207 Chestnut Street, 4th Floor).

It will be led by Luis Mora, President of Finanta, who will discuss, among other things, their unique credit-building tool based on a popular village banking practice with a particular focus on solutions for credit building and loan generating programs for businesses and first time home buyers.

There will also be an opportunity for networking opportunity for financial educators and organizations that promote financial stability. FINANTA has a unique credit-building tool based on a popular “village banking” practice. Our Lending Circles are a ROSCA, or Rotating Savings and Credit Association, made up of people who need financial services and are willing to work together to make that happen.

FINANTA’s Lending Circle serves as the gateway to several benefits: access to a lump sum of money, a way to improve your credit score, peer group support, business workshops and individual technical assistance, and access to FINANTA loans. Together with other business owners, you decide the terms of the Lending Circle, while learning how to make real improvements in your business.

FINANTA is a non-profit 501(c)(3) lending corporation that promotes the growth and economic expansion of diverse Philadelphia communities through the infusion of capital and provision of business consultation services and homeownership counseling. For more information go to www.finanta.org 

The Urban Affairs Coalition (UAC) unites government, business, community, and individual initiatives to improve the quality of life in the region, build wealth in urban communities, and solve emerging issues. UAC provides back office and fiscal and shared services to more than 75 program partners. The Coalition's Community and Economic Development (CED) department brings capital to communities by building bridges between low- and moderate-income areas and mainstream financial institutions.