By the numbers
How Our Work Makes a Difference
MoFi has one big goal: to make the financial system work for everyone.
We do this by providing business loans coupled with free business consulting to entrepreneurs who are shut out of the financial system. Business ownership is a proven pathway out of poverty, but building a business requires capital - which is very hard to get if you lack the assets, income, experience, or credit history to qualify for a bank loan.
In a typical year, 90% of MoFi's loans are to a low-to-moderate income person and 65% are to low- or very low-income people. Last year 26% of MoFi's loans were to people of color, and 40% of the businesses receiving loans were owned by women. 100% of MoFi's loans were to people who were turned away from banks and credit unions.
Below, please take a look at our stories and impacts through 2021.
$851,826,139
of financing provided to businesses across the Rocky Mountain West through 2021
4,637
businesses benefitted from the loans and services MoFi provided through 2021
$90,269,680
of financing provided to low-income entrepreneurs and business owners
$727,215,689
of financing provided to business owners in low-income neighborhoods
$182,362,374
of financing provided to female business owners and entrepreneurs
548
Montana families benefitted from MoFi's down payment assistance programs through 2021
$4,969,355
provided in down payment assistance, making $115,844,593 in mortgages possible
Success stories
Every day, we're inspired by our incredible, resilient clients. Below you will find just a taste of the stories we get to hear on a daily basis. These folks keep our communities strong.
D&J Meat Processing, St. Ignatius, Montana
Noticing a shortage of businesses on the Flathead Indian Reservation that could process livestock and wild game for locals, Donald Pierce set out to open his own shop. Short on collateral, he struggled to access traditional financing. A $100,000 loan from MoFi helped Donald bring his dream to life. Meet Donald and learn more about how MoFi recognized his tenacity, creativity, and dedication to his community.
Tin Roof Tacos, Boise & Meridian, Idaho
Through a start-up loan from MoFi, Susan Loyd and Sandy Broun achieved their dream of creating a neighborhood taco stand just like the one from their hometown in Texas. Five years later, the sisters had blown past projections, their tacos had become a staple in the Treasure Valley, and they had expanded to a second location in Meridian. COVID-19 brought their momentum to a screeching halt. When Susan and Sandy couldn't get a Paycheck Protection loan from a bank, MoFi stepped in again to ensure Tin Roof Tacos could keep people employed and survive the pandemic.
The Reed Family, Lolo, Montana
Amanda and Justin Reed weren't planning to move their family of five out of the home they'd rented for half a decade. But then their landlords decided to sell. Despite having good credit and steady income, homeownership felt out of reach for the Reeds. MoFi's HomeNow down payment assistance program removed their biggest hurdle, making it possible for the family to buy the perfect home in Lolo - just before the beginning of a new school year.
Get involved:
Inspired by the stories you've heard?
We'd love to have you on board. If you're interested in learning more about MoFi or contributing to our efforts, please fill out this contact form. A member of our team will be in touch with you.