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Entrepreneurial Finance Lab [EFL Global]

Entrepreneurial Finance Lab [EFL Global]

Entrepreneurial Finance Lab is a Harvard-developed psychometric evaluation to allow creditors to lend to people and small businesses without established credit.

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Edits on 3 Oct 2019
Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
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Originally developed at the Harvard Center for International Development to address information asymmetry in 2006, Entrepreneurial Finance Lab (EFL) offers psychometric evaluation for credit borrowers lacking a traditional credit scorecredit score. They operate in emerging markets in Africa and Asia and partnered with FICO to provide services in Russia, Turkey and Mexico.

Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
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Standard Bank adopted EFL's model in 2008 and by 2013 had used it to lend more than $200 million to entrepreneurs who would have otherwise not qualified for a loan. The average loan amounts were $7,500, according to Standard BankStandard Bank.

Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
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In October of 2017, EFL announced a merger with Lenddo. Lenddo provided a similar credit ratingcredit rating system, by which lenders could assess applicants without an established credit rating through their social media. LenddoELF combined their services for financial institutions.

Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
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Originally developed at the Harvard Center for International Development to address information asymmetry in 2006, Entrepreneurial Finance Lab (EFL) offers psychometric evaluation for credit borrowers lacking a traditional credit score. They operate in emerging markets in Africa and AsiaAsia and partnered with FICO to provide services in Russia, Turkey and Mexico.

Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
Edits made to:
Article (+6/-6 characters)

Article

Originally developed at the Harvard Center for International Development to address information asymmetry in 2006, Entrepreneurial Finance Lab (EFL) offers psychometric evaluation for credit borrowers lacking a traditional credit score. They operate in emerging markets in Africa and Asia and partnered with FICO to provide services in RussiaRussia, Turkey and Mexico.

Aleksander Holm
Aleksander Holm approved a suggestion from Golden's AI on 3 Oct 2019 4:31 pm
Edits made to:
Article (+6/-6 characters)

Article

Originally developed at the Harvard Center for International Development to address information asymmetry in 2006, Entrepreneurial Finance Lab (EFL) offers psychometric evaluation for credit borrowers lacking a traditional credit score. They operate in emerging markets in AfricaAfrica and Asia and partnered with FICO to provide services in Russia, Turkey and Mexico.

Aleksander Holm
Aleksander Holm edited on 3 Oct 2019 4:28 pm
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Article (+1158 characters)
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Entrepreneurial Finance Lab [EFL Global]

Entrepreneurial Finance Lab is a Harvard-developed psychometric evaluation to allow creditors to lend to people and small businesses without established credit.

Article

Originally developed at the Harvard Center for International Development to address information asymmetry in 2006, Entrepreneurial Finance Lab (EFL) offers psychometric evaluation for credit borrowers lacking a traditional credit score. They operate in emerging markets in Africa and Asia and partnered with FICO to provide services in Russia, Turkey and Mexico.



EFL provides creditors with a psychometric evaluation of those seeking loans without a credit history. The test asks questions which do not necessarily have right answers. The assessment seeks to evaluate personal initiative, situational judgement, creativity and business acumen.

...

Standard Bank adopted EFL's model in 2008 and by 2013 had used it to lend more than $200 million to entrepreneurs who would have otherwise not qualified for a loan. The average loan amounts were $7,500, according to Standard Bank.

Lenddo merger

In October of 2017, EFL announced a merger with Lenddo. Lenddo provided a similar credit rating system, by which lenders could assess applicants without an established credit rating through their social media. LenddoELF combined their services for financial institutions.

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Edits on 22 May 2019
Julius John Villarisco"Approved suggestion from source: http://www.eflglobal.com"
Julius John Villarisco approved a suggestion from Golden's AI on 22 May 2019 12:00 am
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Henry Ogolla
Henry Ogolla approved a suggestion from Golden's AI on 21 May 2019 4:45 pm
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Entrepreneurial Finance Lab [EFL Global]

Entrepreneurial Finance Lab is a Harvard-developed psychometric evaluation to allow creditors to lend to people and small businesses without established credit.

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Henry Ogolla"Initial topic creation"
Henry Ogolla created this topic on 21 May 2019 4:45 pm
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Entrepreneurial Finance Lab is a Harvard-developed psychometric evaluation to allow creditors to lend to people and small businesses without established credit.

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