Fresh Start

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Inspiration

Credit companies often make mistakes and can leave information out when calculating a credit score for you. In a study done by the FTC, 26% of people had at least one error in their credit calculation, and 5% had an error that affected them financially. In addition, the credit system is structured in a way where there is little responsibility or care for the common consumer's well-being. One particular case we looked at was housing inequality in the context of lending. We found that lower income families tend to be exploited as tenants because they have fewer options and less capital - in other words, the price per square foot goes down as you rent larger spaces. In order to address this problem, we created a micro-loan platform where we connect thousands of lender and borrowers so everyone can lend and loan at a reasonable small amount anytime anywhere. This effectively creates a community free from the mysterious operations of the credit bureaus and allows for people with low credit or who can't secure the loans they need to get those loans at a reasonable price.

What it does

• A crowd-funded micro-loan platform where investors can make a profit and people get the funds they need.
• Low risk = Low-interest rates
• Transparent rating system to create a more accurate credit score.
• Cultivates fiscal responsibility - people start with small loans and are able to move onto larger loans as they grow

How we built it

HTML, CSS, Boostrap, JS, JQuery, PUG, Node, mongoDB, Heroku, Paypal API.

What I learned

We learned more about the financial inequality in our society and would like to introduce a new way of thinking like Fresh Start to combat financial inequality.

Built With

• css3
• html5
• mongodb
• npm