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CDFI offering business loans, credit union services, and affordable housing financing to underserved communities across multiple regions with 30+ years of experience.
Data compiled from public sources
Finanta (formerly Community First Fund) is a Community Development Financial Institution (CDFI) with over 30 years of history serving Philadelphia's low-income communities. The organization rebranded in November 2024 to reflect its evolved mission while maintaining its grassroots approach to community development. Following a 2020 merger, Finanta has expanded its reach and resource capacity significantly, now operating across multiple regions with a comprehensive suite of financial products and technical assistance programs.
Finanta provides a broad range of financing solutions including business loans for startup and expansion, commercial real estate purchases, affordable housing development, and funding for community-based nonprofits. They operate Finanta Credit Union, offering traditional credit union products and services (checking, savings, CDs) alongside listed lending programs. Their portfolio includes first-time mortgage programs, Affinity Group Lending for entrepreneurs, and technical assistance for business owners seeking to launch or grow their ventures.
What distinguishes Finanta is its dual mission combining financial services with intentional community impact. The organization specifically targets job-creating businesses, affordable housing development, food and healthcare resource access, and educational opportunities. Their Affinity Group Lending and first-time mortgage programs have operated for over 12 years, demonstrating consistent commitment to underserved populations. The organization prioritizes word-of-mouth referrals and accessibility, reflected in their consumer-friendly rebranding to "Finanta," derived from "finance" and "technical assistance."
As a CDFI, Finanta fills a critical gap in lending to communities underserved by traditional financial institutions. However, potential borrowers should note that as a mission-driven lender serving lower-income populations, approval processes may be more rigorous than conventional banks, and loan terms may vary significantly based on individual circumstances and community development impact. Their strength lies in working with entrepreneurs and communities where traditional lending has historically been unavailable.
This is state-level context for Business Loans consumers in Reading, PA. It does not confirm that Finanta (Formerly Community First Fund) or this specific location is licensed.
State regulator
Pennsylvania Department of Banking and Securities
Consumer protection
Status: Permitted
Rate context: 6% APR for non-licensed lenders; 24% APR for licensed consumer discount companies
Personal loans are regulated under Pennsylvania usury laws. Licensed consumer discount companies must comply with the Consumer Discount Company Act and are subject to licensing by the Department of Banking and Securities.
Status: Permitted
Rate context: 6% APR for non-licensed lenders; 24% APR for licensed small loan/consumer discount companies
Installment loans are permitted and regulated under the Consumer Discount Company Act. Licensed lenders can charge up to 24% APR and must be regulated by the Pennsylvania Department of Banking and Securities.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Finanta (Formerly Community First Fund) offers 11 services including Business startup and expansion loans, Commercial real estate and business property purchase financing, Affinity Group Lending programs for entrepreneurs, First-time homebuyer mortgage programs, Affordable housing development financing, and 6 more.
Finanta (Formerly Community First Fund) has profile signals associated with Early-stage entrepreneurs and small business owners in underserved communities seeking startup or expansion capital, Low-to-moderate income individuals seeking first-time home purchase mortgages or affordable housing access, Community-based nonprofit organizations needing financing for mission-driven services and programs, Individuals seeking credit union membership with community investment values aligned with their own.
Key strengths: CDFI status means loans explicitly serve low-to-moderate income individuals and underserved communities; 30+ year track record serving Philadelphia and expanded regional presence with proven lending history; Offers integrated credit union services (checking, savings, CDs) alongside listed lending. Areas to consider: Limited geographic service area compared to national lenders; primarily Philadelphia-based despite regional expansion; As mission-driven lender, may have more stringent underwriting requirements than conventional banks.
In the Business Loans category, comparable providers include Commerce Capital Funding Co., Commercial Lenders of America, Commercial Real Estate Loans USA. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Finanta is profile signals for entrepreneurs, nonprofits, and homebuyers in underserved communities who value mission-aligned lending and community development impact alongside financial products. The primary caveat is that applicants should expect community-development-focused underwriting (rather than traditional credit-score-only approval) and will likely need to engage directly with their Philadelphia or regional office to discuss loan options and eligibility.
Commerce Capital Funding offers fast unsecured business loans, lines of credit, and merchant cash advances for small businesses researching short-term cash access flow solutions.
Profile signals: Small business owners needing fast working capital without bank delays, Merchants with consistent card sales looking for short-term cash access advances
Commercial Lenders of America offers commercial real estate financing, hard money loans, SBA loans, and working capital solutions for small to large businesses with up to $100M in loan amounts.
Profile signals: Real estate investors seeking short-term fix-and-flip or bridge financing, Small business owners needing working capital without collateral for amounts under $725,000
Private commercial real estate lender offering mortgages, bridge loans, and hard money financing for projects from $100K to $2B nationwide and internationally.
Profile signals: Commercial real estate investors seeking bridge financing for time-sensitive acquisitions or auctions, Developers with ground-up construction projects rejected by traditional lenders
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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