NBC News|Asian America, released a brief post titled “Traditional Asian Lending Circles Get New Life with Modern Twist“. The release mentions ASIA’s latest Self-Sufficiency program, run by Susan Wong, manager of Self-Sufficiency. The program, Peer Lending Circles, began in November of 2014 to harness the rich culture of saving and lending within the Asian community. Peer Lending Circles allows for participants to build credit as a way to increase financial capability among low and moderate income AAPIs.
The Peer Lending Circle is funded through a partnership with National CAPACD (Coalition of Asian Pacific American in Community Development) and by J.P. Morgan Chase.