Integrating CCL's Values into Loan Servicing

Community Credit Lab (CCL) was born out of the need to create an inclusive financial system — with opportunities for all individuals to thrive regardless of race, ethnicity, gender, or other demographic factors. Since the early stages, we recognized that communities know their own needs best and should, therefore, lead the process of designing affordable financial products to meet those needs. As a result, CCL’s Lending Programs unlock capital for individuals and small businesses that have faced barriers in the mainstream financial system and do so at the direction of community partners (i.e. Lending Partners).

Behind every loan ID... there is an individual.

Our team not only strives to provide inclusive, affordable, and tailor-made program design and loan origination processes in collaboration with our Lending Partners, but we also make sure to carry CCL’s values throughout loan servicing until repayment with borrowers. CCL’s values (listed below) shape our work by constantly reminding us that:

1. Our borrowers are the reason why Community Credit Lab exists, and;

2. Behind every loan ID, behind every email or call, there is an individual or small business that CCL supports.

Below are some of the most important values that, when brought to practice, guide us to better help our borrowers:

Flexibility

For as much as we plan, reality often finds a way to change those plans. Therefore, we try to adapt as much as possible to borrowers’ needs. As circumstances change, loan terms initially agreed upon may no longer work after a few months (or years!). We support people and small businesses to repay through changes in payment dates, amounts, and frequency; rather than becoming an obstacle, the loan continues to enable our borrowers to pursue and achieve their goals with flexible repayment terms.

Transparency

We strive to be open and honest with our borrowers about how our processes work, relevant timelines and next steps, how to navigate any potential difficulties, whether we can meet requests, the reason why an issue may have originated, or why expectations were not met. We place a high value on transparency; we know it's essential for people and small businesses to plan effectively in order to cover their resource needs.

Empathy

Our servicing team centers listening to our borrowers’ goals, questions, and concerns. We recognize that understanding their situation is key to achieving an effective solution. We work together with individuals and small business owners to tailor loans that will work for them before any implementation occurs.

Respect

We emphasize communication style and timeliness. We aim to treat borrowers like a family member or a friend who reaches out for support. We are conscious and respectful of our borrowers’ time and always aim to deliver a prompt, kind, and helpful response.

Trust

Last but certainly not least, our lending model is based on trust. We trust our borrowers and our Lending Partners to make the right decisions that best serve their communities interests.

Accordingly, we are available to facilitate the availability of resources with minimal requests subject to relevant state and federal compliance requirements. Respectfully asking for additional information to meet compliance requirements continues to be an ongoing, necessary balance as we build trust with people and small businesses. To date, we have navigated these considerations effectively by relying on CCL's values, while always questioning the status quo: how can we do things better?

All in all, we are grateful for the people and small businesses that give us the opportunity to work with them and are appreciative of our efforts to provide the highest quality of service:

"I believe you all are doing an amazing job. I felt heard and seen. I did not feel alone throughout the entire process."

"I feel that CCL was very helpful and provided a wonderful and easy experience for me."

Thank you, too, to the funders, donors, impact investors, and Lending Partners who continue to enable CCL’s work.