Andrew Posner
- Role
- Founder & CEO at Capital Good Fund
- Location
- Providence, RI, US
- LinkedIn followers
- 500 followers
Experience
Founder & CEO
May 2008 — Present · Providence, RI, US
Capital Good Fund is a nonprofit, U.S. Treasury-certified Community Development Financial Institution headquartered in Providence, RI. Founded in 2009, our mission is to create pathways out of poverty through equitable financial services. Our 30-person staff serves currently serves residents of four states—RI, DE, FL, and MA—with plans for expansion into two additional markets soon. We provide small-dollar personal loans ranging from for a variety of purposes, including immigration expenses (such as citizenship, green card renewal, or family reunification); purchasing, refinancing, or repairing a vehicle; energy-efficiency upgrades for homeowners; and emergencies. Borrowers can also enroll in our Financial & Health Coaching program, which consists of four ninety-minute sessions and two check-ins conducted over the course of a year. Session topics include banking, budgeting, credit, debt, savings, and health (including access to primary care and healthy eating). We serve as an alternative to the $141 billion predatory financial services industry, which consists of payday lenders, pawnshops, rent-to-own stores, check cashers, buy-here-pay-here and auto title lenders, and others. Our loans also empower immigrants and other vulnerable populations (people of color, the LGBT community, ex-offenders, survivors of domestic violence), address climate change through energy-efficiency, and build wealth and assets for the economically marginalized. Since 2009 and as of November 2019, we have financed 4,400 small-dollar personal loans totaling $9.3 million (with a 95.6% repayment rate) and graduated over 1,500 families through Financial Coaching. We are proud of our recent growth: since 2016 we have sextupled our assets and quintupled our annual loan volume. This growth fits into our long-term scaling plan, which calls for us to be 100% self-sufficient through earned income (interest and fee-for-service) by 2024; in 2018 we were 35% self-sufficient.
Education
Brown University
Master of Arts (M.A.), Environmental Studies
2007 — 2009
Brown University
Master of Arts, Environmental Studies
2007 — 2009
California State University
B.A, Spanish Language and Culture
2002 — 2006
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