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FINANTA Presented with Nation Small Biz Association Award


Natalia Olson-Urtecho, U.S. Small Business Administration Mid-Atlantic Regional Administrator, and Antonio (Tony) Leta, U.S. SBA Eastern Pennsylvania Director, recognized South Kensington-based FINancing And Technical Assistance (FINANTA) and FINANTA President Luis Mora-Rechnitz with an national SBA award on May 10.

FINANTA

Pictured left to right in first photo: U.S. SBA Eastern Pennsylvania Director Antonio (Tony) Leta FINANTA President Luis Mora-Rechnitz and U.S. Small Business Administration Mid-Atlantic Regional Administrator Natalia Olson-Urtecho.)

FINANTA became the second-ever recipient of SBA’s Jody C. Raskind Lender Award, a recognition presented to a mission-focused lender that has distinguished itself in helping small businesses start, grow and expand. The award was presented for the first time in 2015 to honor mission lenders that demonstrate extraordinary commitment to the creation, growth and expansion of small businesses in underserved markets with a demonstrable impact on the communities it serves.

“It’s absolutely wonderful to see our local partner, FINANTA, receive such a prestigious award for the great things they do for small businesses, particularly those in underserved markets,” Leta said. “I’m very proud to see Philadelphia’s own FINANTA garner this exceptional distinction for the work Luis and his team do, and for the incredible impact of the role that they play, in helping small businesses start, grow and succeed.”

FINANTA was created in 1996 and has since delivered services such as access to capital, technical assistance and credit building to low-to-moderate income entrepreneurs and first-time homebuyers in Philadelphia who face cultural, social and language barriers. This approach has allowed FINANTA to help economically disadvantaged businesses to succeed for the long-term and create 1,500 jobs, and individuals and families who are borrowing for the first time, with more than 1,200 loans totaling over $45 million. FINANTA’s office can be found at 1301 N 2nd St.

“For 20 years, FINANTA has economically empowered Philadelphia-area entrepreneurs through its lending and technical assistance services,” Mora-Rechnitz, FINANTA’s President, said. “We have distinguished ourselves by delivering services in a way which is acutely conscious of the cultural, social, and language barriers many of our clients encounter. FINANTA’s innovative approach to economic self-sufficiency comes from years of research that led us to emphasize credit-building as the foundation for growth. The Jody C. Raskind award is a great honor for us and I’m very proud that FINANTA has won it.”

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