Capital Good Fund
Providence, Rhode Island, United States
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About
Capital Good Fund is a nonprofit, certified Community Development Financial Institution scaling to self-sufficiency that provides life-changing small-dollar personal loans as a direct competitor to predatory financial services.
website
www.capitalgoodfund.org
Email
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sectors
financial services
How is your business helping to solve the health, social, or economic challenges created by COVID19?
We are creating economic resiliency for individuals and families that do not have access to traditional credit sources. By providing equitable loans we enable clients to overcome cash flow short falls, build credit and avoid predatory financial services that create debt-spirals. This is especially important for low-income borrowers during the crisis, but is also essential for long-term economic uplift, which will allow folks to better weather future crises. Credit when used appropriately can be source of economic creation for individuals and families regardless of their income levels and credit history.
Does your business contribute most to recovery, response, or resilience?
Recovery - we're positioned to support in the recovery of those directly affected.,Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market ready product/service. I have sold to customers.
What strengths does your team bring? Include skills and personal experience with the problem.
The team as a whole brings an extremely diverse set of backgrounds and skills to creating and managing equitable financial services. First and foremost the team's racial and ethnic background matches that of our clients. Several of our employees have also been clients of Capital Good Fund. They understand the needs and issues that our clients face making them better able to assist those in need of help. Furthermore the senior management team has well-rounded a skill-set to manage the growth needed to achieve self-sufficiency. The CEO, also the Founder, has been developing our products and systems since the Company launched in 2009. We have found a model and base on which to grow and expand our product offerings. The CFO has 30 years of experience in all aspects of finance. The COO has spent her entire 12 year career focused on non-profit operations. Our 30+ person staff is well-suited to grow the business.
What countries do you operate in?
United States
Is your company headquartered in a US "Opportunity Zone"?
Yes

What is an opportunity zone?