How Fig Loans combines social impact with business return
Zara Mohidin, Head of Business Development at Fig Loans, which is a social impact start up focused on being a bridge between bad and good credit for Americans who would otherwise use predatory loans joins Enterprise Radio.
Listen to interview with host Eric Dye & guest Zara Mohidin discuss the following:
- What does being a social impact start-up mean?
- What does a social impact business look like in practice?
- Now in regards to your company & continuing the theme today of social impact…..”How does Fig Loans’s business model reflect social impact and mission alignment?”
- How do you maintain accountability to the communities you serve?
- What does success look like for your customers and can you give us an example of how you’ve helped someone achieve that success?
Summary: For people who are interested in starting a social impact company or setting aside funds for impact investing, I think it’s really important to do your due diligence and make sure social mission is truly integrated with the business model.
Zara Mohidin is the Head of Business Development for Fig Loans, a social impact company focused on creating socially responsible alternatives to predatory payday loans. Fig prides itself on being a bridge between bad and good credit for low-income Americans. By partnering with community organizations like the United Way of Greater Houston, the Houston Area Urban League and Catholic Charities, Fig is able to use first hand experience from financial coaches to create low cost, credit building financial products to a segment of borrowers who are continually ignored by the traditional banking sector.
Prior to Fig, Zara worked on various private equity deals as a part of Linklater’s Investment Management group and served as a United Nations Representative for the Virginia Gildersleeve International Fund. She earned her B.A. in Global Affairs from NYU.
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