Borrower Credit Score Builders

Inspiration

We know that Kiva helps to support people who have no credit to get loans. However, wouldn't it be great if Kiva could also use the repayment information for these borrowers to help them establish some credit as well?

Challenges we ran into

We did not realize that credit bureaus have limits on the amount of reports that a data furnisher can/must provide every month. Kiva falls into a segment where we do not have enough credit reports each month to be high enough volume. Thankfully, there is the Credit Builder's Alliance, that can accommodate a lower volume.

What we learned

We learned a lot about the credit data system in the United States as well as the Metro 2 format and how that is the standard for all credit reporting data.

What's next for Borrower Credit Score Builders

We did not build out the actual infrastructure to accomplish credit reporting for Kiva borrowers, but a good next step would be getting the permissions and funding necessary to see if we can actually make this a reality. We did the leg work to figure out what kinds of data and partnerships are needed in order to build out this service.

Built With

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