Turning the system upside down
JustCap is a first of its kind micro-lending platform, designed to connect socially conscious lenders with formerly incarcerated individuals in need of capital to address the various and multiple acute needs that are critical to successful re-entry.
Borrowers are selected through partnerships with a network of service providers working with the re-entry population. Rather than relying on a flawed credit system, borrowers are evaluated based on an “integrity quotient” that along with references, predicts true creditworthiness.
JustCap is inspired by our experience working with Boston’s “highest impact” street-involved young adults. Through this work, we learned and observed first-hand how key insights to solving our biggest societal issues—like mass incarceration--lay with the directly impacted individuals and communities. Unfortunately, we also saw how the collateral consequences of incarceration often bar individuals from accessing necessary resources and support to survive, let alone thrive and meaningfully participate in our society. This holds true independent of “good character”, “intellect”, or other traditional notions of what constitutes “merit”.
These lessons, coupled with our collective expertise in evidence-based criminal justice reform and [Social Enterprise; mission-driven business models], led us to this initiative—seeking to create a simple way for individuals to take a role in driving change and positive social impact. JustCap makes it possible for almost anyone of us to play a sustaining role in changing the status quo of Mass Incarceration, by investing in the success of formerly incarcerated people and supporting their journey in overcoming the often-insurmountable challenges presented upon release from custody.
Do I need to fund the entire loan?
No, JUST crowdfunds loans so there are many individual lenders who come together to contribute to each successful loan. You can lend $25 or more to a borrower to help them reach their goal. Of course, the more you lend, the greater the impact!
Will I get repaid?
That's the plan! JUST is in a pilot phase, but our expectation is that 90%+ of all loans will be repaid to lenders.
Will I earn interest on this loan?
No. All loans are structured as no interest loans with a relatively short payback period. The goal is for borrowers to become financially self-sustainable without an onerous debt.
Who can get a JustCap loan?
Our borrowers are men and women who have spent at least 3 years incarcerated. Each is an active participant with one of our service providers, benefitting from wrap-around support.