Nonprofit or community organization
Last modified: January 7, 2014, 2:56 PM
Founded in 1996, FINANTA is a non-profit 501(c)(3) community lender that provides access to capital, technical assistance (TA) and credit-building services for low- to moderate-income entrepreneurs and first-time homebuyers in Philadelphia. Our mission is to promote the growth and economic expansion of diverse communities through the infusion of capital and the provision of business and homeownership consultation services. We are a certified U.S. SBA Microloan Intermediary, U.S. Treasury Community Development Financial Institution, and Pennsylvania Housing Finance Agency Homeownership Lender.
For businesses FINANTA offers microloans up to $50,000 and economic development loans up to $150,000. For prospective first-time homebuyers FINANTA administers mortgage loans up to $417,000. In both areas, FINANTA also offers credit- and capacity-building programs for individuals and families not yet ready to borrow. Over its 17-year history FINANTA has deployed over 600 loans totaling $36 million to over 400 unique clients, leading to 1,200 jobs created or retained and 30 first-time homes purchased.