Fig Loans Becomes First FinTech to receive CDFI and B Corp Certifications
Houston-based Fig Loans is now the first FinTech company to receive both B Corporation and Community Development Financial Institution (CDFI) certifications. Fig uses predictive analytics to offer credit building alternatives to predatory loans. Fig's mission is to give working class Americans a second chance at building credit. And with both CDFI and B Corp awards under its belt, Fig has met two of the highest standards for social performance, transparency and accountability. "The definition of a CDFI aligns word for word with the founding vision for Fig," says Co-Founder Jeff Zhou. "We are constantly impressed by the tremendous work our nonprofit partners do for communities underserved by mainstream financial services. Fig's job is to support and enhance the impact of these amazing organizations."