Salary Finance raises $ 150 million from Community Investment Management to help working Americans transition from debt to savings


BOSTON–() –Salary Financing, the world’s leading provider of financial education and salary-related benefits, today received a new funding round from Community Investment Management (CIM). The $ 150 million investment over the next three years will be used to fund low-cost loans for working Americans struggling with financial stress.

“Americans are facing unprecedented financial stress from COVID-19 and the worst economic recession since the Great Depression,” said Dan Macklin, CEO of Salary Finance Inc. “Many don’t have enough money to make ends meet. The federal government is helping, but it’s not enough for those who have lost income or family members have lost their jobs. Working with progressive employers who empathize with the financial pressures of their employees, we are committed to getting millions of Americans out of debt and investing in savings and helping communities in dire need of financial aid. ”

CIM is an institutional impact investment firm that provides strategic debt financing to demonstrate and scale responsible innovation in lending to underserved communities. Founded in 2014, the company has set itself the task of promoting financial inclusion, promoting economic development and promoting the broad acceptance of this responsible innovation by the financial mainstream.

“We are very excited to announce this funding from CIM, which will enable us to provide affordable credit to thousands more employees and further validate our unique payroll model,” said Macklin.

In the latest survey from Salary Finance, two-thirds of American workers are under financial stress. This stress often manifests itself in physical and mental illness: almost three-quarters of American workers who experience financial stress have physical symptoms and are seven times more likely to be depressed.

The financial inequality experienced by underserved communities is also staggering. Corresponding Pew research, half of black households do not have an emergency fund, and nearly half of black and Latinx people have difficulty paying their monthly bills.

“We applaud Salary Finance’s commitment to improving the financial health of American workers – especially those who have historically been underserved – and their efforts to work with companies that want to help their employees overcome financial problems. The affordable, fair and transparent capital that Salary Finance offers is a lifeline that can reduce employee financial stress and ultimately strengthen the resilience of our communities, ”said Jacob Haar, Managing Partner of CIM. “We look forward to this partnership and what we can achieve together.”

About payroll

Founded in 2015, Salary Financing is an award-winning organization that works with employers to provide financial wellness solutions that help employees be financially healthier and happier. As a charitable company in America, we are driven by an ambitious mission: to help 10 million Americans out of debt and savings. Salary Finance is a corporate partner of United Way Worldwide and works with over 600 of the world’s leading employers. Salary Finance is a founding member of Conscious Capitalism’s Senior Leader Network and a member of the American FinTech Council. To learn more, please visit www.salaryfinance.com/us.

About Community Investment Management

Community Investment Management (CIM) is an institutional impact investment firm that provides strategic debt financing to demonstrate and scale responsible innovation in lending to underserved communities. We believe that responsible financial inclusion of the underserved is critical to equitable economic growth, job creation and maintenance, and the health and sustainability of local communities. More information is available at http://www.cim-llc.com.


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