In countries all over the world, informal lending circles bring community members together to lend and borrow money. From the tandas and cundinas of Mexico to the hui of Asia, nearly every culture has a system for peer-to-peer lending.

In partnership with Mission Asset Fund, we offer Lending Circles, an innovative program that turns this decades-old tradition into a credit-building opportunity by reporting monthly loan payments to all three credit bureaus. With the opportunity to build or improve your credit, you gain access to more affordable loans, join the financial mainstream, and build up your emergency savings.

How it works
After applying online, participants attend an online or in-person financial education workshop to become more financially savvy and maximize the program’s impact. Then, six to twelve participants come together to form a Lending Circle and decide on a loan amount ($300 to $2400).

When the Lending Circle begins, each participant makes the same monthly payment ($50 to $200), which our partner, Mission Asset Fund, reports to the three credit bureaus (Equifax®, Experian® and TransUnion®). The loan recipient rotates every month until the entire Circle has received their loan. For example, 10 participants can form a Circle and agree to each contribute $50 a month, meaning a 10 month loan term for a total loan amount of $500.

Do I Qualify?

To qualify, participants should:

  • Have an active email and checking account
  • Have a valid government issued ID, and Social Security Number or ITIN (Individual Tax Identification Number)
  • Demonstrate an ability to afford the loan by providing two months of pay stubs and three months of recent bank statements

How to apply
Fill our the interest forms. Contact our Financial Empowerment Coordinators at 650.403.4300 ext 4105.

Upcoming Information Sessions
Peninsula Family Service is able to offer Lending Circles thanks to a partnership with Mission Asset Fund (MAF). As founders of this innovative program, MAF collaborates with select nonprofit partners to create credit-building opportunities across the country.

For both Santa Clara and San Mateo County inquiries, contact our Financial Empowerment Coordinators at 650.403.4300 ext 4105.

Interest Forms

Interested in applying for one of our Financial Empowerment programs? Click the button below to fill out an interest form. Once submitted, a member of our Financial Empowerment team will contact you to assist with the next steps in the process.

Interest Form

Interest Form (Spanish)