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March 24, 2013
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Formal 'Lending Circles’ Help Immigrants Build Credit and Improve Their Lives

A creative way to help people gain access to the financial mainstream

sarah peet photography

Mission Asset Fund reports activity in its lending circles to credit agencies so participants can establish credit scores and later get loans from banks.

Lending circles are a common fixture in immigrant communities. Members of a lending group put a set amount of money—say, $100—into a common pool each month and then take turns receiving the monthly proceeds. The circles are a popular way for...

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