Capital Good Fund

Using financial services to tackle poverty… access to credit and an alternative to predatory lending

Capital Good Fund is a nonprofit and one of the few U.S. Treasury-certified Community Development Financial Institutions (“CDFI”) that provides affordable small-dollar loans to low-wealth families for a variety of key needs, including essentials such as security deposits, utilities, and other emergencies. Capital Good Fund’s unique lending and financial coaching model is innovative and fills an opportunity gap in the existing CDFI landscape in metro Atlanta. This fintech model makes affordable, small-dollar personal loans accessible to individuals who are underserved by mainstream financial systems, have less-than-perfect credit and are susceptible to high-interest debt and predatory lending.

In metro Atlanta, where many families need twice the federal poverty threshold income to cover basic needs, financial stability was identified by GreenLight Atlanta as an immediate opportunity area for innovation. Capital Good Fund was selected in 2023 during a critical time as families continued to struggle financially in the face of inflation, stagnant wages and lack of access to credit.

Capital Good Fund understands that financially secure households should have access to credit to cope with unexpected expenses and that financial literacy and money management skills are essential components of financial stability. The program addresses these challenges by providing both access to cash, as well as coaching and training in financial literacy to empower metro Atlanta residents to better manage their finances effectively and withstand unforeseen financial hardships.

In other cities where they operate, Capital Good Fund clients have an 96% loan repayment rate and save approximately $700 in interest and fees over the life of the loans versus comparable predatory loan products. As a result of financial coaching, Capital Good Fund clients achieve an average 75-point FICO score improvement. Over 4 years in Atlanta, Capital Good Fund is expected to issue more than 1,100 loans benefitting more than 2,500 people and their family members.