7800 MacArthur Blvd Oakland CA 94605
7800 MacArthur Blvd
Do you have a goal to clear debt, start a business, and/or enhance your quality of life? Do you face barriers to loans from traditional financial institutions? Want to improve your credit score? Ever heard of a lending circle? If you answered yes to any of these questions, then the East Oakland SuSu Lending Circle Program is just for you!
Join us for an orientation to learn exactly how East Oakland SuSu Lending Circle Program works.
*Light refreshments provided.
*Ages 18+ welcome.
*Facilities are wheelchair accessible.
The East Oakland SuSu Lending Circle Program is a self-help tool connecting East Oakland residents of color, particularly Black low and middle income individuals who fall between 30-80% of the area AMI and small business owners to collectively pool monetary resources for personal and group economic advancement. The program offers individuals a 0% interest savings loan combined with free monthly financial empowerment workshops and resources to expand participant financial awareness in personal budgeting, debt management, first time home ownership, and small business incubation. Typical monthly payments range between $50-$200 over 6-12 months. We encourage participants to save within our three savings tracks: business development, debt management, and a better quality of life. Using culturally relevant and traditional practices stemming from West Africa and the Caribbean, the SuSu program is also designed to establish a culturally safe and fun way to build trust in group economics.
WHAT IS SUSU?
Su – Su /‘soōsoō/ – is an informal means of collecting and saving money through a savings club or partnership. This means of saving money is a cultural tradition that is widely used in the Caribbeans, West and East African territories, to name a few.