Lending Circles Program Draws Nationwide Attention

The Education and Leadership Foundation’s Lending Circles Program recently gained nationwide recognition after a story produced by KVPR, Valley Public Radio, highlighted the program’s impact on local families. The story was later shared by a social media influencer, expanding its reach and introducing audiences across the country to an innovative financial empowerment model that is helping participants build credit and achieve their financial goals.

The attention generated by the influencer’s post soon attracted the interest of Univision Evening News, which will feature the program in a national segment highlighting its benefits. The story includes interviews with ELF staff and a program participant who shared how Lending Circles helped create new financial opportunities and provided a pathway toward stronger economic stability.

A community tradition, with 21st century tools and protections

Lending Circles, offered through a partnership between ELF and San Francisco-based Mission Asset Fund (MAF), transforms a concept known in Latin America as a tanda, cundina, vaquita, among others, into an opportunity for financial growth. Participants contribute an agreed-upon amount each month, and each member takes a turn receiving the full pooled amount.

Several aspects of Lending Circles make it unique from tandas:

1. Every payment is reported to the three major credit bureaus, helping participants establish or improve their credit.

2. It implements an online app, myMAF, to apply for the program and access the financial education

3. The program is backed by ELF and MAF, ensuring that even if a participant leaves the circle, the remaining members still receive their full share as scheduled.

ELF also hopes that this focus on the Lending Circles program can inspire entrepreneurs who could benefit from the program. Through ELF’s participation in SCALE Fresno, a collaborative initiative focused on strengthening and supporting the local entrepreneurial ecosystem, ELF is able to also provide resources to help them grow and succeed.

If you are interested in joining an ELF Lending Circle or need more information, please contact Carmen Cárdenas at (559) 291-5428 for more information. Visit elfus.org/lendingcircles