Small businesses like neighborhood stores increasingly find it difficult to fulfil their funding needs during pandemic times as the human connect is lost leading to spiraling down of trust factor.
What it does
crowdfunding application brings the borrowers and investors together on a platform to solve the funding problem. We achieve this by finding local Investors based on zip-code of the store, automating the full life cycle of funding process using Pega’s case management and enhancing the trust factor in lending process by building an escrow account for both lender and the borrower.
How we built it
HLCF is built using Pega's case management and integrated with zipcodeapi and google maps by using Pega Express Methodology
Challenges we ran into
API to find near by lenders
Accomplishments that we're proud of
Have followed Pega Express Methodology and progressed through the discover, prepare, build and adopt phases to deliver the project
What we learned
Escrow account process
What's next for Hyper Localized Crowd Funding
Can be extended to various use cases, people in an org who want to take small loans from colleagues or students in a community or university wanting to fund their small needs. This application can bridge this gap. The data on credit history thus generated for the store owner can be shared with other customers and can be used for larger funding from NBFCs.