Social change work is hard and frustrating and wonderful and terrible; it is also, at times, funny, quirky and just plain fascinating. With this blog we hope to capture all that goes into what we do at Capital Good Fund, and we invite you to join the conversation!

Wednesday, June 20, 2018

An Open Letter to President Trump re: Tearing Families Apart at the Border

An Open Letter to President Trump re: Tearing Families Apart at the Border  |  6/20/2018

We write this letter full of the images and sounds of young children sobbing, thrown into cages, torn from their parents’ arms, some never to be reunited with their families, many robbed of their innocence and their potential as human beings. We write in recognition of the fact that there is a legitimate debate to be had about immigration reform, but clear in the conviction that the policy of separating children is an abomination and an affront to human rights and American values. No moral or legal argument could justify your actions, and when you say that you are merely enforcing the law, you are lying: you created this policy, and you have the power to immediately cease the separation of children from their parents. Nor is a change of policy sufficient, for you must also ensure that every single family is reunited.

To use traumatized children as a bargaining chip for other policy goals, which appears to be your aim, is unspeakably cruel. We are profoundly concerned, not only with your current actions, but also with your rhetoric. Over the past few months and years you have referred to immigrants as “animals” and “invaders,” spoken about a supposed “infestation” of our country, and made numerous other dehumanizing remarks. Using history as our guide, we know that dehumanizing rhetoric leads to dehumanizing policy, and from there the possibility of greater horrors is enough to shock the conscience. The United States of America cannot and will not go down that road.

We must recognize that no human being is illegal. No human being is an animal. The majority of people traveling vast distances to come to this country are fleeing poverty, violence, and repression; they seek asylum and a better life for themselves and their family. Your rhetoric would lead one to believe that the majority of these immigrants are violent criminals, but according to Customs and Border Protection statistics, in fiscal year 2018 just 275 of 256,857 apprehended at the border were linked to the gang MS-13 (CBS). But of course we do not need statistics to know that the vilification of an entire group of vulnerable people—be they immigrants, Muslims, the poor, or people of color—is reprehensible, and the past two centuries are rife with examples of the ugly consequences of doing so.

We therefore exhort you to: first, stop tearing innocent children from the arms of their parents; second, to end the dangerous rhetoric; and third, to reunite the families. We of course need to protect our borders and enforce our laws, but doing so is not incompatible with protecting the dignity of all. This is not a question of law or public welfare, but rather one of morality and human rights—full stop. We are the wealthiest nation on the planet; we have the resources to humanely and equitably process and evaluate asylum claims. And even if we weren’t so wealthy and powerful, it would still be utterly inexcusable to put children and infants in makeshift detention centers: forbidden to speak to their parents, forbidden from embracing one another, alone, terrified—victims of your beliefs, your rhetoric, and your policies.

In solidarity with the most vulnerable among us,

Andrew Posner, Founder & CEO
Annie Dickson, COO
Dr. Ana Silva, Secretary of the Board
Hillary Feeney, Director of Coaching
Charles Frumerie, Director of Communications
Laura Rijo, Director of Loan Servicing
Angela Tosca, Director of Systems
Jennifer Ventriglia, Finance Specialist
Kyle Flavin, Credit Officer
Roxana Mercado, Loan Officer
Isabel Rodriguez, Financial Coaching Officer
Monica Rodriguez Lucas, Client Services Officer

Friday, February 3, 2017

Good Fund Stands with Immigrants, Refugees, & Muslim People

Capital Good Fund’s Statement on the President’s Executive Order
Regarding Immigrants & Refugees |  2/3/2017

At Capital Good Fund we firmly believe that all those in need, regardless of religion, sexuality, ethnicity, gender identity, or legal status, have a fundamental human right to dignity, hope, and opportunity. And that is why we are appalled by the President’s Executive Order banning certain refugees from entering this country and restricting travel for some visa holders and legal permanent residents of the United States.

History has shown time and again that trafficking in fear, hate, deception, and scapegoating of the vulnerable can lead down a slippery slope to fascism and genocide. Today we add our voice to those choosing love over fear. We choose to affirm an America embodied by the Statue of Liberty and her timeless refrain: “Give me your tired, your poor, your huddled masses yearning to breathe free...”

As a public charity we cherish our role in serving all who come to our door. Our community is Muslim, undocumented, Christian, LGBTQ, Jewish, disabled, atheist, African American, Buddhist, and Native American. We take pride in our efforts to create pathways out of poverty and into prosperity for all. We are proudly headquartered in the sanctuary city of Providence, Rhode Island, but our reach extends to the people of Delaware and Florida. Over time, we hope to serve vulnerable populations nationwide.

In these uncertain times, we vow to tear down walls with love, replace bans with open arms, and support all who feel threatened by a minority that seeks to dangerously wield its power. We stand alongside the masses who already are mobilized in the airports, the streets, and the halls of Congress to preserve the American values of life, liberty, and the pursuit of happiness.

Our diversity is our greatest strength.


Andrew V. Posner, Chief Executive Officer
Randall P. Rice, Chairman of the Board
Libby Kimzey, Chief Operating Officer
Allison Barinas, Client Services Officer
Anim Yeboah, Web Development Officer
Chadria Major-Thomas, Director of Loan Origination
Charles Frumerie, Director of Communications
Diane Costa, Human Resources Officer
Elijah Peterson, Senior Development Officer
Heiry Bulux, Loan Officer
Joyce Braboy, Accounting Manager
Laura Y. Rijo, Director of Loan Servicing
Muna Idriss, Director of Systems
Sarah Laird, Development Officer
Simon Lichter, Market Research Officer
Vannessa Ramirez, Loan Officer

If you prefer, you can download a PDF of this statement here.

Thursday, January 19, 2017

An Open Letter to the President-elect

An Open Letter to the President-elect | November 17, 2016

President-elect Trump,

As a tax-exempt public charity, we at Capital Good Fund have for seven years worked to provide equitable financial services that create pathways out of poverty. And while we have occasionally weighed in on public policy, we have stayed out of politics.

Your election to President of the United States of America forces us to speak up. We cannot ignore that during your campaign you insulted, marginalized, and threatened many of those we serve—immigrants, people of color, gays and lesbians, women, Muslims, the disabled. You promised to deport millions of people, disparaged and objectified women, and spoke of jailing your political opponents and infringing on the freedoms we hold dear.

Capital Good Fund stands with, and will continue to serve, those who now fear for their safety and prosperity. We oppose racism, bigotry, misogyny, and xenophobia in all their forms. Our organization will vigorously speak out against polices that threaten the Constitution and the Bill of Rights. And we will not be silent; as Dr. Martin Luther King wrote, “There comes a time when silence becomes betrayal.” That time is now.

We take this opportunity to elevate the voices of those across the country who are joining us in resistance to hatred:
  • Like the Mexican American Legal Defense and Educational Fund, we call upon you to revise and rethink your immigration policy proposals. Mass deportations of hardworking immigrants would violate the civil rights of citizens and non-citizens alike, be an economic disaster, and tear apart families and communities;
  • Like the Council on American-Islamic Relations, we are deeply concerned by the increase in anti-Muslim rhetoric and violence. It is time for you to make it clear to the nation that Islamophobia is anti-American;
  • Like the Southern Poverty Law Center, we demand that you unequivocally condemn white nationalism and neo-Nazism, and reject the figureheads of such movements: those individuals have no place in the White House—the “People’s House”;
  • And like the American Civil Liberties Union, we want you to know that efforts to reverse decades of progress on civil rights will be met with opposition in the courts and peaceful protests in the streets.
We hope to work with you toward a more just, peaceful, and prosperous nation for all.



Andy Posner
Founder & CEO
Capital Good Fund

If you prefer, you can download a PDF of this letter here.

Monday, January 11, 2016

Whither Your New Year's Resolution?

Image credit:
I sometimes joke that the best time to get going on your New Year's resolution is June, in part because you are free at any time to get a fresh start, and in part because it is demoralizing to watch your resolve wilt away by the first week of January. Still, the concept of the New Year's resolution is fascinating, for it gets to the core contradiction between our ability as humans to think and plan long-term and our seeming inability to behave accordingly. The examples are innumerable: we know it is imperative that we save, yet we buy that shiny new TV; we want to lose weight, but we can't do without that piece of cake; and more broadly, we (most of us) know that climate change is an existential threat, yet we repeatedly fail to take the individual and collection action needed to do something about it.

Wednesday, November 18, 2015

Press Release: Capital Good Fund Launches Groundbreaking $4.25 Million Debt Offering

Capital Good Fund Launches Groundbreaking $4.25 Million Debt Offering
Pioneering social enterprise aims to create 60 jobs and change 17,000 lives over five years 

Providence, RI—Capital Good Fund, a Providence-based nonprofit social change organization that provides equitable financial services—small personal loans and Financial Coaching—to create pathways out of poverty, has launched a first-of-its-kind $4.25 million Direct Public Offering.

Instead of making a donation, social investors can earn up to 5 percent and invest as little as $1,000. Investors can be accredited or non-accredited individuals and institutions in 15 states including Rhode Island, Massachusetts, and New York.

By offering social investors financial as well as social returns, Capital Good Fund is creating a new model for change,” said Founder and CEO Andy Posner. “Large-scale problems require large-scale solutions, but nonprofits often lack the resources to meet these challenges. Where philanthropic funding often amounts to a zero-sum game between nonprofits, the capital markets give us access to a global source of funds with which to grow.

Capital Good Fund provides financial services to those that would normally only have access to capital through fringe and predatory lenders such as payday lenders, pawn shops, auto title lenders, and other subprime lenders who charge poor families upwards of 200% APR.

With $4.25 million in funds, Capital Good Fund will take a big step towards fulfilling its social mission. The organization plans to create 60 jobs and make17,000 loans in the next five years; this, in turn, will enable them to generate 100 percent of its budget from interest income.

“Capital Good Fund’s debt offering represents an exciting new model for how nonprofits can scale through earned-income strategies,” General Treasurer Seth Magaziner said. “For the past six years, Capital Good Fund has used financial services to serve Rhode Islanders. Now, they are blazing a trail for social enterprises throughout the nation to strengthen their finances and better serve their communities.”

In the first few weeks of the Offering a total of $120,000 has been committed, including $100,000 from Alan Hassenfeld, former CEO of Hasbro Toys.

"I am excited that Capital Good Fund is using this powerful new tool for reaching the less fortunate," said Alan Hassenfeld, President of the Hassenfeld Family Foundation. "I'm proud to invest $100,000 in this debt offering so that thousands of families will have the tools they need to take care of their families."

For more information:

Investors can learn more by visiting the website of Social Capital Fund, Capital Good Fund’s sister nonprofit and debt issuer, at or by contacting Andy Posner, Founder & CEO, via the info here.


Founded in 2009, Capital Good Fund is a nonprofit, certified Community Development Financial Institution (CDFI) and proud member of the Opportunity Finance Network. The organization provides Financial & Health Coaching and personal loans ranging from $300 to $13,500 across four product lines. Since its founding, Capital Good Fund has disbursed 950 loans totaling $900,000 (with a 92% repayment rate) and graduated 1,000 people through its Coaching programs.

Thursday, August 20, 2015

New Car Loan Program & Press Release

This month, we're so happy to announce our car loan product, which will help thousands of Rhode Islands avoid predatory car loans from buy-here-pay-here dealers.

If you have money, you can pay for a car in full. If you have good credit, you can get some great loans from credit union. But if you lack both, you're left with options like those "NO CREDIT!" buy-here-pay-here dealerships, which are notorious for taking advantage of people.

That's where our car loans come in. Our car loans are a more affordable alternative to buy-here-pay-here loans, and can save people up to $9,000 over the lifetime of the loan.

Thursday, July 16, 2015

What We Learned From Listening To Our Clients

Image credit: Ky Olsen
I can think of dozens of times when we've struggled to design a marketing campaign, launch a new loan product, or build a community partnership. In each instance, we've attempted to put ourselves in the shoes of those we serve and adjust accordingly. Not surprisingly, we have had mixed results with this approach, for no matter how hard we try, we are far more likely to be biased toward our perspective than we are toward that of our clients.

As we look to scale, however, we realize that one of the biggest challenges will be customer acquisition; our competitors have branches in every low-income neighborhood in the state and boast significant marketing budgets. To put predatory companies out of business, then, we must have an effective and cost-effective marketing strategy. To that end, we recently partnered with Professor Joe Stasio, a marketing professor at Merrimack College, to develop just such a strategy. And the first thing he recommended we do? Listen to our clients.