The Fountain Fund

The Fountain Fund is a nonprofit lender that provides microloans and financial coaching exclusively to individuals impacted by the criminal justice system who may not qualify for traditional lines of credit but have viable job prospects or entrepreneurial ventures. Funds acquired from these loans can be used for various expenses, such as settling court fees and debts, covering job-related costs, securing housing and transportation, advancing education, and more. The loans help recipients build credit, achieve their self-determined goals, gain access to capital and achieve economic mobility. 

GreenLight selected the Fountain Fund because they uniquely fill an identified gap in reentry services in Boston, specifically related to accessing capital. The Fountain Fund is far more than a traditional financial institution. To fulfill their mission to increase economic opportunities for individuals impacted by the criminal justice system, to improve their lives, and to help them remain in their communities, the Fountain Fund ensures their clients receive financial education and ongoing community support. 

Operating in Virginia and New Orleans, the Fountain Fund has extended nearly 500 low-interest microloans totaling $2M, to 350 program client partners. Today, 85% of Fountain Fund loans are in good standing and more than $750,000 in loan capital has been recycled. In Boston, the Fountain Fund is expected to serve 360+ client partners over the next four years and achieve similar results.