Leverage the Power of CBA Fund to Expand Your Community’s Capacity
Are you looking for ways to expand your community's capacity to provide safe and affordable small dollar consumer loans (SDLs) and credit building products? If so, CBA Fund is the nonprofit intermediary for you. Founded in 2018 by parent company Credit Builders Alliance (CBA), CBA Fund provides capital solutions for the extension small dollar consumer loans primarily among CBA’s existing membership of 550+ credit building organizations. Let’s take a look at how CBA Fund can help support eligible nonprofit lenders.
Affordable and Patient Loan Capital
CBA Fund offers affordable and patient loan capital to eligible nonprofit lenders who are interested in expanding their lending programs or launching new ones. This loan capital allows nonprofits to provide SDLs and credit building products with flexible terms that work best for their clients. These terms include low interest rates, long repayment periods, and no origination fees or prepayment penalties. In addition, these funds have the flexibility to be used as revolving capital lines or as one-time grants.
Supplemental Capacity Building Grants
In addition to providing loan capital, CBA Fund also offers supplemental capacity building grants that can be used to cover expenses related to staffing, IT infrastructure, training, marketing materials, etc. These grants are designed specifically to increase the amount of lending capacity available to local communities by helping nonprofits create sustainable organizational models with sufficient resources dedicated solely to small dollar lending activities.
Training & Technical Assistance
Finally, CBA Fund provides training and technical assistance on topics such as underwriting criteria development; legal/regulatory compliance; risk management; loan portfolio performance; financial modeling; fundraising techniques; grant writing; etc., which helps ensure that all organizations receiving funding through CBA are operating in accordance with industry standards for SDL lending. The purpose of this training is twofold: 1) To ensure that nonprofits are delivering quality services efficiently and effectively while meeting all applicable laws and regulations, 2) To offer guidance on best practices so that organizations can maximize their impact within their communities by providing sustainable access to affordable SDLs and credit building products.
With its three-pronged approach of providing loan capital, supplemental capacity building grants, and training & technical assistance for eligible nonprofit lenders, CBA Fund is an invaluable resource for those seeking ways to expand their community's capacity for safe and affordable small dollar consumer loans (SDLs) and credit building products—all while ensuring sustainability through industry-specific knowledge transfer. Get in touch with us today if you would like more information about how we can support your organization’s efforts! We look forward hearing from you soon!
Contact Information
Dara Duguay
Chief Executive Officer
1701 K Street NW Suite 1000
Washington, DC 20006
www.creditbuildersalliance.org
dara@creditbuildersalliance.org