PHILADELPHIA, PA — Amalgamated Financial Corp. (AMAL) said its banking subsidiary, Amalgamated Bank, has provided a $5,000,000 loan to Finanta to expand access to capital for affordable housing, small businesses, and community-serving organizations across Pennsylvania, New Jersey, and Delaware.
The funding will support affordable housing developers, childcare and education providers, healthcare organizations, healthy food initiatives in food deserts, and entrepreneurs who often face barriers to traditional financing, the bank said.
“Finanta’s work to strengthen communities is aligned with Amalgamated’s core values and mission,” said Sam Brown, chief banking officer at Amalgamated Bank. “We’re thrilled for this opportunity to further demonstrate our commitment to the critical work of CDFIs, expanding access to health care and supporting community builders that create pathways to education, healthy food, small business and affordable housing.”
Community development financial institutions such as Finanta rely on capital from banks and institutional partners to provide low-cost financing for projects that may not qualify under conventional lending standards. Finanta said loan repayments are recycled back into its loan fund, allowing dollars to be reinvested repeatedly in the communities it serves.
“Loans like these expand access to funds that support long-term financial stability for hard-working families,” said Daniel Betancourt, chief executive officer of Finanta. “We are grateful to Amalgamated for partnering with us so we can continue to offer access to capital in communities that need it the most.”
Founded in 1992 and formerly known as Community First Fund, Finanta operates as a nonprofit lender and credit union serving greater Philadelphia, eastern and southern Pennsylvania, New Jersey, and Delaware. As of 2025, the organization manages more than $250,000,000 in capital focused on building economically resilient and healthy communities.
Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company providing commercial banking and financial services through Amalgamated Bank, which operates branches in New York City, Washington, D.C., and San Francisco, along with a commercial office in Boston. The bank traces its roots to its founding in 1923 by the Amalgamated Clothing Workers of America and provides commercial banking and trust services nationwide. Additional information is available at www.amalgamatedbank.com.
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