Economic Justice Fund

What Economic Justice Fund does

Economic Justice Fund (EJF) is a Sacramento-based 501(c)(3) nonprofit Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury's CDFI Fund in January 2022. Founded in 2020 and commencing full-year lending operations in 2021, EJF provides fair, affordable, fee-free installment loans to California residents, with low fixed interest rates starting at 7.9% APR, terms of 12-60 months, and no application, origination, servicing, or prepayment fees. Its loan portfolio spans four products: a Sacramento Micro-Business Resiliency Loan (up to $10,000), the Lifeline Pandemic Recovery Initiative ($500-$25,000), the Equitable Opportunity Loan ($500-$2,500) for unbanked/underbanked borrowers, and the Credit-Building Initiative. The Credit-Building Initiative, launched in July 2023 via the Credit Builders Alliance (CBA) Reporter, reports borrower payment data to Experian, TransUnion, and Equifax at no cost to borrowers.

EJF's technology is a web-based loan origination and servicing platform with online prequalification (soft credit pull in under one minute, no score impact), full online applications with document upload, same-day application decisions, and next-business-day ACH funding. Underwriting is character-based and flexible, weighing employment history, recent on-time payment history, and ability to repay rather than relying solely on credit score; no minimum credit score is required under the Credit-Building Initiative. Distribution is 100% direct-to-consumer via the company's website (economicjusticefund.org), supplemented by loan-specialist phone follow-up. Loan applications are restricted to California residents aged 18+ who are U.S. citizens, permanent residents, or eligible visa holders. Marketing is content-led, relying on an SEO-optimized blog, named-borrower success stories, Trustpilot verified reviews (Excellent Five-Star), Mailchimp email, and Google Analytics.

Revenue mechanics are hybrid for a nonprofit CDFI: net interest income from the loan portfolio (APR equals interest rate because no fees are charged), federal and state grant funding (cumulative $733,795+ from U.S. Treasury CDFI Fund across FY2021-FY2023 plus 2024 SDL Program and California Investment & Innovation Program grants), and charitable donations. As of September 2023, EJF had disbursed ~100 loans cumulatively, with 97% going to low-, very-low-, and extremely-low-income borrowers; 72% to Black, Indigenous, and people of color; and 74% to women (average household size 3-4). The organization operates from Sacramento with 1-10 employees and is led by inaugural CEO and founder Scott Berman (appointed October 2023), previously a senior executive at the U.S. Treasury CDFI Fund and now on the national CDFI Coalition Board of Directors.

Name

Economic Justice Fund

Legal name

Economic Justice Fund

Website

https://economicjusticefund.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Sacramento-based nonprofit CDFI providing fee-free, low fixed-rate personal and micro-business loans plus free credit-building services to low-income, BIPOC, and unbanked California borrowers. Certified by the U.S. Treasury CDFI Fund in 2022.

Ownership category

akta.pro rank

Product category

Community Development Lending

NAICS

Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141), Federal & Federally-Sponsored Credit Agencies (6111), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Community development lending
• Small dollar loans
• Credit building services
• Micro business lending
• Nonprofit financial services

Headquarters

HQ city

Sacramento

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Personal & Small Business Loan Interest Income: Primary revenue stream: interest earned on fair, fixed-rate, fee-free installment personal loans (and small business / micro-business loans) originated to California borrowers. Loan terms range from 12 to 60 months with low fixed rates starting at 7.9% APR; because no fees are charged, APR equals the interest rate.
2. Federal CDFI Grants: Capacity-building grant funding from the U.S. Department of the Treasury CDFI Fund, including a $125,000 Technical Assistance award (FY2021), $108,795 Small Dollar Loan Program award (FY2022), and $500,000 CDFI Equitable Recovery Program award (2023) used to expand lending programs and loan-loss reserves.
3. Donations: Charitable donations solicited from supporters ("Join us in our work to advance economic justice" / "Support Us" navigation link) to supplement mission-driven lending capacity.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Economic Justice Fund is a U.S. Treasury-certified Community Development Financial Institution (CDFI) that originates fair, affordable, fee-free installment personal and micro-business loans to California residents excluded from mainstream credit. Its loans carry low fixed interest rates starting at 7.9% APR, 12-to-60-month terms, no application/origination/servicing/prepayment fees, next-business-day ACH funding, and complimentary credit reporting to Experian, TransUnion, and Equifax via the Credit Builders Alliance Reporter. Lending is supplemented by free financial education and character-based underwriting that weighs employment, on-time payment history, and ability to repay rather than relying solely on credit score.

Product overview

Economic Justice Fund (EJF) operates a unified nonprofit lending platform anchored by its core Personal Loans product, supplemented by a portfolio of mission-driven sub-products and programs: the Sacramento Micro-Business Resiliency Loan for local entrepreneurs, the Lifeline Pandemic Recovery Initiative for COVID-impacted borrowers, the Equitable Opportunity Loan (small-dollar lending for unbanked/underbanked borrowers), and the Credit-Building Initiative that adds free Experian/TransUnion/Equifax credit reporting to all loans. All offerings share the same fee-free, low-fixed-rate, character-based underwriting model and are bundled with complimentary Financial Education and free credit-building services to help borrowers qualify for additional mainstream financing. EJF commenced full lending in 2021, achieved U.S. Treasury CDFI certification in 2022, and operates exclusively in California.

Differentiator

Problem solved

Functional benefit

Brands

• Lifeline Pandemic Recovery Initiative: Lifeline loans launched September 2022 to provide loans ranging from $1,000 to $25,000 to low-income borrowers needing emergency capital or escaping predatory pandemic-era loans. Fixed rates starting at 7.9%, terms 12–60 months.
• Equitable Opportunity Loan (EOL)
• Sacramento Micro-Business Resiliency Loan
• Credit-Building Initiative

Products and services

• Economic Justice Fund Personal Loans Flagship consumer lending product offering low, fixed-interest-rate, fee-free personal loans (no application, origination, servicing, or prepayment fees) with flexible 12-to-60-month terms, next-business-day ACH funding, and complimentary credit reporting. Designed for California residents seeking to improve credit, consolidate debt, cover emergencies, or pursue the American Dream.
• Sacramento Micro-Business Resiliency Loan COVID-19 pandemic-era microloan product providing up to $10,000 in financing to Sacramento micro-businesses and underserved entrepreneurs. Features low interest rates, no application/origination/servicing/prepayment fees, flexible terms, and flexible underwriting to meet the needs of borrowers overlooked by traditional lenders.
• Lifeline Pandemic Recovery Initiative Loan product for low-income California borrowers facing financial emergencies or seeking to escape predatory loans obtained during the pandemic. Loans of $500 to $25,000 (with later $500-$10,000 range under the ERP grant), low fixed-interest rates starting at 7.9%, flexible underwriting, free credit reporting, and 12-60 month terms.
• Equitable Opportunity Loan (EOL) Small-dollar consumer loan product providing $500-$2,500 in California to low-, very-low-, and extremely-low-income borrowers (including unbanked/underbanked borrowers) for emergency expenses or to refinance predatory debt. Features flexible 12-to-36-month terms, complimentary financial education, and free credit reporting.

Quantifiable outcome

• 100 loans disbursed by September 2023, with 97% going to low-, very low-, and extremely low-income borrowers
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Credit Builders Alliance (CBA)coreTechnology or IntegrationTechnology integration partnership: EJF implemented the Credit Builders Alliance Reporter (CBA Reporter) to report borrower payment data to Experian, TransUnion, and Equifax in compliance with FCRA best practices, enabling its Credit-Building Initiative.
• TrustpilotminorChannel Partner/ Reseller/ DistributorVerified borrower-review platform integrated with the EJF website to display third-party verified reviews and the Excellent Five-Star rating referenced across the homepage, Loans page, and Eligibility page.
• CDFI CoalitionminorStrategic or Co-development PartnerIndustry association: EJF CEO and founder Scott Berman serves on the Board of Directors of the national CDFI Coalition, providing EJF with policy and ecosystem influence in the U.S. CDFI community.
• California Association of Microenterprise Opportunity (CAME)minorStrategic or Co-development PartnerMembership organization referenced on the EJF site as part of its identity as a microlender supporting women and micro-entrepreneurs in California.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Grameen America: National nonprofit microfinance organization offering small-dollar loans to low-income women entrepreneurs — directly comparable to EJF's micro-business and personal lending focus on underserved women borrowers.
• Opportunity Fund (dba DreamSpring): Certified CDFI providing small business loans to underserved entrepreneurs, particularly women, BIPOC, and immigrant-owned micro-businesses — closely mirrors EJF's mission-driven microenterprise lending model.
• Mission Asset Fund: San Francisco-based nonprofit CDFI providing zero-interest and low-interest loans plus credit-building circles to low-income immigrants and communities of color in California — a geographically overlapping peer with a similar CDFI, character-based underwriting approach.
• LiftFund: Texas-headquartered nonprofit CDFI providing small business and microloans to minority and low-income entrepreneurs, with deep CDFI Fund grant relationships — comparable scale, mission, and product mix to EJF.
• Accion: Global nonprofit microlender providing small business loans and credit-building services to underserved entrepreneurs — directly comparable mission and borrower profile, though with broader geographic footprint.
• Pacific Community Ventures: California-based nonprofit CDFI providing small business loans, advisory services, and capital to underserved small businesses in California — geographically overlapping with EJF and serving a similar BIPOC and low-income borrower base.
• Working Solutions CDFI: Bay Area nonprofit CDFI providing microloans and small business financing to low-income and minority entrepreneurs — directly comparable California microenterprise lending focus and CDFI model.

Regional players

• CDC Small Business Finance: California-based certified CDFI originating SBA 504 and SBA Community Advantage loans to small businesses — comparable CDFI structure and California focus, though SBA-channel rather than direct personal/microloans like EJF.

Emerging players

• Possible Finance: Fintech lender licensed as a CDFI providing small-dollar installment loans to thin-file borrowers as an alternative to payday lenders — directly comparable product (small-dollar, fee-light installment loans) though operating as a venture-backed fintech rather than nonprofit.

Broad incumbents

• Self-Help Credit Union / Self-Help Ventures Fund: Established North Carolina-headquartered CDFI and credit union system providing consumer, mortgage, and small business loans to underserved communities nationwide — comparable CDFI mission and regulatory structure at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/economic-justice-fund

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Economic Justice Fund