Finanta

Specialties

Finanta is a non-​profit lending organization that provides a wide range of financial products and services, including: microloans; lines or letters of credit; real estate loans; loan guarantees; GAP and bridge loans; loan participations; and small business loans for equipment, working capital, account receivables and inventory. We provide financing for start-​ups; business development or expansion; business purchasing or relocation; franchises; single or multi-​family housing rehabilitation or new construction and acquisitions; mixed-​use real estate development; commercial real estate development; and for schools, child care centers, job training facilities, and other non-​profit developments. As a tri-​lingual organization (English/​Spanish/​Portuguese), we specialize in supporting under-​banked and under-​served minority and/​or immigrant entrepreneurs.

History

Established in 1996.

FINANTA is a non-​profit lending organization that provides business technical assistance and loans, homeownership counseling and mortgages, and financial literacy services to Philadelphia residents. Founded in 1996 to address a demand for business financing that was unmet by the local banking industry, FINANTA was at the center of the American Street Empowerment Zone (ASEZ) revitalization effort. Then called the «American Street Financial Services Center,» the organization received $ 7 million from ASEZ, an investment we have recycled four times. To date, we have lent nearly to $ 33 million to over 350 business owners, non-​profits and first-​time homebuyers, with an average loan loss rate of 1.4%, well below industry standards. Our loans have ranged in size from $ 400 to $ 3.3 million and have funded business in various industries, ranging from small, local coffee shops to large-​scale commercial redevelopment projects, helping to create and retain over 1,500 jobs in Philadelphia.

Meet the Business Owner

Luis M.

Business Owner

Luis Mora, President of FINANTA, has been with the organization since it was founded in 1996. Mr. Mora originates, underwrites and documents, and settles loans for the organization; he provides relationship management and portfolio servicing, in addition to developing policies and procedures and financing priciples. Since its inception, Mr. Mora has lent well over $ 28 million, extended 200+ credit facilities ranging from $ 400 to $ 3.3 million, and has leveraged over $ 28 million in public and private capital.