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East Oakland SuSu Lending Circle Program

​Addressing lending barriers with the East Oakland SuSu Lending Circle Program.

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The East Oakland SuSu Lending Circles Program is designed to enhance the quality of life of BIPOC East Oakland residents and unite around collective economics. The East Oakland SuSu Lending Circles Program promotes the preservation of cultural financial practices and economic empowerment through collective savings via lending circles, community building and financial literacy. The program includes free financial literacy workshops that promote self-determination and reliance facilitated by BIPOC financial experts.

What is SuSu?

Su - Su /‘soōsoō/ - is an informal means of collecting and saving money through a savings club or partnership. This means of saving money is a cultural tradition that is widely used in the Caribbean, West and East African territories, to name a few and in many different cultures.

What are lending circles?

A lending circle generally refers to a group of people who pool money on a regular basis and provide rotating loans to circle members to receive a no barrier, zero-fee, zero-interest loan. Typical monthly lending payments range between $50-$200 over 6-12 months. In partnership with Mission Asset Fund, the lending circles are FDIC insured and reported to the three credit bureaus-- providing positive boosts to credit scores. 


How It Works


The program offers individuals a 0% interest savings loan combined with free monthly financial empowerment workshops and resources to expand participant financial awareness in personal budgeting, debt management, first time home ownership, and small business incubation. Typical monthly payments range between $50-$200 over 6-12 months. We encourage participants to save within our three savings tracks: business development, debt management, and a better quality of life. Using culturally relevant and traditional practices, the SuSu program is also designed to establish a culturally safe and fun way to build trust in group economics.

Join the 2023 program cohort and lending circles! 

Criteria (target audiences)
  • Resident of color of East Oakland or greater Oakland
  • Income falls between 30-80% of the area medium income 
  • Interested in alleviating debt, increasing savings, raising your credit score
  • Black, Brown, Indigenous, People of Color (BIPOC)
  • ​Single Parent Households
  • Youth & Young Adults (*14+)
  • ​Transitional Age Youth (*14-24)
  • Seniors/Elders (62+)​
  • Differently-abled Persons
  • Transgender
  • Gender Non-Conforming folks
  • ​Formerly Incarcerated
Program Guidelines
  • Application required. Subject to approval
  • ​Orientation
  • Monthly Payment Agreement 
  • ​Monthly Workshops (in person and virtual)
  • Surveys and Feedback

Deadlines
  • ​Complete the interest form - bit.ly/eocsusu2023
  • Attend the virtual info session on July 11, 2023
  • Submit the Mission Asset Fund application and documents by August 10, 2023 
  • Groups begin lending in September 2023 
Missed the info session? View the presentation to learn more about the program and lending circles.

Thank you to our 2023 program sponsors!

Capitol One
Target Foundation
Cohn Charitable Fund / San Francisco Foundation

Road to Financial Freedom


Keta Price of EOC talks with UC Berkeley School of Journalism's North Gate Radio about addressing decades of unfair lending practices against Black communities in Deep East Oakland and the East Oakland SuSu Lending Circle Program, our innovative lending circle helping the community grow. 
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Mail

P.O. Box 5382
​Oakland, CA 94605

Distribution Office

7800 MacArthur Blvd.
​Oakland, CA 94605

Telephone

510.990.0775

Email​

Stay Connected

info@eastoaklandcollective.com
  • Home
  • About
    • About Us
    • Focus Areas and Programs >
      • Economic Empowerment
      • Homeless Services & Solutions
    • Our Team
    • News
  • COVID-19 Relief
  • Calendar
  • Donations
  • Gallery
  • Feed the Hood
  • Connect
  • Jobs
  • Volunteer