Andy Posner, president and CEO of the Capital Good Fund, joined Local Return board member Jessica David to talk about the lessons he’s learned over 12 years of providing an alternative to predatory payday loans. Capital Good Fund has saved clients an estimated $5.5 million, and borrowers increase their credit scores by an average of 75 points.
Andy covers the challenges of growing the Fund to sustainability, his goal to democratize impact investing, and how we might change the narrative around financial management. “The problem is not that poor people don’t know how to manage money,” he points out. “They’re amazing at it. What they don’t have is money to manage.”
Building community wealth requires practical solutions to the very real barriers to financial stability. Thanks to Capital Good Fund for developing a creative solution that offers affordable credit and accessible investment.