Basic Organization Information
MISSION ASSET FUND
- Also Known As:
Mission Asset Fund
- Physical Address:
San Francisco, CA
- Web URL:
- NTEE Category:
S Community Improvement, Capacity Building
S30 Economic Development
W Public, Society Benefit
W60 Financial Institutions/Services (Non-Government Related)
R Civil Rights, Social Action, Advocacy
R22 Minority Rights
- Ruling Year:
Asset Fund (MAF) is a nonprofit organization that helps financially excluded
communities – low-income and immigrant families – to become visible, active,
and successful participants in the U.S. financial mainstream.
Public, Society Benefit
- Population Served:
Poor/Economically Disadvantaged, Indigent, General
Our models and programs tackle the financial exclusion of low-income families. From no-cost credit-building loans to cutting-edge community research, we bridge the gap between diverse cultural practices and the mainstream financial system – all to help the financially invisible become visible.
At our flagship office located in San Francisco's Mission District, we directly work with individuals living in the San Francisco Bay Area. With organizational partners throughout California, MAF is quickly expanding its programs across the nation. We provide technological infrastructure and consultation to nonprofit partners to provide the benefits of our innovative models to other communities.
Lending Circles(http://www.missionassetfund.org/programs/lending-circles) are zero-fee, zero-interest credit-building social loans. By organizing low-income community members into Lending Circles, borrowers become lenders and lenders become borrowers.
Lending Circles for Citizenship
Citizenship Tandas(http://www.missionassetfund.org/programs/lending-circles/lending-circles-for-citizenship) , a social loan and match savings program, helps remove the financial barriers to citizenshia social loan and match savings program, helps remove the financial barriers to applying for deferred action. Lending Circles for Dreamers organizes qualified low-income participants to save and lend money to each other to cover the cost of filing for deferred action. MAF provides a 33% charitable match to help meet their goal.
Resources Match(http://www.missionassetfund.org/programs/resources-match) is an online screening tool that connects low-income clients with the services they need. And fast. That means you can get access to Food Stamps, low-cost checking accounts, housing and employment assistance programs in your neighborhood—all at the same time.
Research & Policy
Our Research & Policy(http://www.missionassetfund.org/programs/research-policy) work is about inspiring change at a larger level through cutting-edge research, publications and policy leadership - all in the interest of moving the needle to improve financial access, products and protections for low-income consumers.
Program Long-Term Success:
Program Short-Term Success:
Program Success Monitored by:
Program Success Examples:
Social loans provide the boost people need to transform dreams into reality. With Lending Circles, low-income individuals are building credit, starting successful businesses, getting out of high-cost debt, buying homes, saving for college and working to increase their assets and financial capability. With 100% repayment rate and a 0% default rate, Lending Circles has a big impact on entire communities. For more information, please visit http://www.missionassetfund.org/impact/program-outcomes(http://www.missionassetfund.org/impact/program-outcomes) .
Impact Summary from the Nonprofit
MAF’s secure financial services and technology help people overcome economic barriers, including predatory lending and lack of access to affordable credit. Since 2008, Lending Circles has enabled low-income individuals to get secure, no-interest loans that now total more than $1.2 million. With improved credit scores, hundreds of people have started businesses, gotten out of high-cost debt, bought homes and changed their lives for the better – all with 100% repayments and no defaults.