Meet Just, a new social venture

Just (www.hellojust.com) is a social venture focused on serving the working poor in the United States. Initially, the new organization will combine lessons from the world of microfinance with technology to help people excluded from mainstream banking to save and earn more money. The vision is to learn and build community while creating access to financial services. This approach begins with a fundamental belief in the desire and commitment of people to improve their own lives.

In the United States, there are over 45 million people living in poverty. It is a systemic problem that demands a different system in order to create lasting and sustained change. Unlike predatory financial service businesses that target the poor, Just will design a simple and straightforward approach to free the poor from a cycle of debt. Microloans could be used to start or expand a small home-based business or invest in other ways to help increase the family’s income. Whether saving or borrowing, Members will form small, supportive groups helping to ensure one another’s success. Longer term, Just intends to build a trusted brand that will evolve with the needs of the working poor.

While the new venture will raise capital to cover its start-up costs, the business model will be self-sustaining over time. Internally generated revenue will fund the expansion of the business to new geographies and into other pro-people products and services.

Just will be led by Steve Wanta the former Global Program Director for Whole Planet Foundation. Steve spent over a decade leading programs for Whole Food Market’s foundation that supported microlending internationally and in the U.S. Joining Steve as founding board members will be Bill Wood and Andy White. Bill has over thirty years of experience in venture capital as co-founder of Austin Ventures and the founder of Silverton Partners. Both venture capital firms have focused on funding and building new businesses. An attorney by training, Andy has considerable experience in the structuring of non-profits and their operations which will inform the development of this innovative vehicle.

In 2016, Just will pilot operations in Austin; learn from those experiences; refine the business model; and then expand to additional geographies. A brand and new name will be developed through this process.