The Fountain Fund

The Fountain Fund is a nonprofit lender that provides low-interest loans and financial coaching to people formerly incarcerated (Client Partners), helping them build credit and achieve their self-determined goals. 

GreenLight selected the Fountain Fund because they uniquely fill an identified gap in reentry services in Philadelphia, specifically related to accessing capital. There is no other organization in the country providing very low-interest loans and financial coaching exclusively to previously incarcerated individuals. 

In combination with a loan, the Fountain Fund offers required financial literacy training which  includes resources related to finances and credit building, group workshops and one-on-one financial coaching to give Client Partners the information, understanding and skills to build credit. In addition, the program connects Client Partners with various community resources to help them make the most of a fresh start and advocates for public policy that increases economic opportunities and reduces obstacles for people formerly incarcerated.

Operating in Virginia and New Orleans, the Fountain Fund has extended more than 400 low-interest micro loans, totaling over $1.5M 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 Philadelphia, the Fountain Fund is expected to serve 450+ client partners over the next four years and achieve similar results.