Community Credit Lab

Community Credit Lab (CCL) is a 501(c)(3) nonprofit organization based in Seattle, Washington. Founded in 2019, it operates in the Human Services category, focusing on community-first investing by designing and facilitating lending programs that increase affordability and access to capital for historically marginalized communities.

Mission and Activities

Community Credit Lab works to address systemic inequities in the financial system by empowering community organizations to control and deploy capital according to their needs. It achieves this by co-creating loan terms and underwriting criteria with community partners, thereby decentralizing lending processes. CCL's lending model emphasizes non-traditional qualification criteria, shifting focus from credit scores to character-based assessments, particularly through initiatives like the Character-Based Lending pilot.

Partnerships and Acquisitions

In September 2022, Community Credit Lab was acquired by Common Future, an organization dedicated to advancing racial and economic equity. This partnership enhances CCL's capacity to implement community-driven capital deployment initiatives and conduct ongoing analyses to influence funders and investors. Together, they aim to build economic power and self-determination in communities excluded from mainstream financial systems.

Impact and Recognition

Community Credit Lab has secured significant impact investments and philanthropic funding, enabling it to facilitate affordable consumer and small business loans across the United States. It was recognized as "Best Nonprofit Startup" in Seattle at the 2020 Social Venture Partners Pitch Competition. CCL also features in publications such as Yes Magazine and the Stanford Social Innovation Review for its work in promoting equitable financial systems.

Financial Overview

As of recent financial reports, CCL's revenue primarily comes from contributions and investment income. The organization holds a notable portfolio of assets, reflecting its capacity to manage and deploy capital efficiently.

Vision and Goals

Community Credit Lab seeks to redefine traditional notions of risk, return, and wealth by promoting capital that benefits communities rather than concentrating wealth. It advocates for a paradigm shift toward more equitable and impactful investment strategies that prioritize community self-determination and cultural power.