Steve Wanta became frustrated by how difficult it was for entrepreneurs to have access to financing to start small businesses.
After all, capital is essential fuel for small businesses, Wanta said. He had worked at Whole Foods’ philanthropic arm, Whole Planet Foundation, for almost 10 years, where he was in charge of programming to support microcredit, or small loans used to invest in a business to help lift low-income individuals out of poverty.
“I came to see in the United States that our financial system has been designed around mitigating risk, which means that oftentimes people that don’t have money or don’t have a track record, don’t get access to opportunity,” he said.
Which is why he decided to found his nonprofit JUST in 2016 alongside investor Bill Wood and attorney Andy White. The organization is committed to giving low-income people micro-loans based on trust, rather than credit scores, collateral and a track record.