loan.ly

Inspiration

Witnessing how 1.7 billion unbanked adults get excluded from emergency loans due to rigid credit systems, we envisioned a financial safety net powered by community trust instead of collateral. Our inspiration came from Kerala's "Kudumbashree" women's collectives where peer accountability enables microlending without paperwork.

What it does

loan.ly enables hyper-local emergency loans through: Trust Scoring: Community-validated reputation replaces credit scores Risk-Sharing Pools: 2% of every loan builds a community insurance fund Decentralized Matching: Lenders in your locality/network bid to fund requests

How we built it

Frontend: Flutter, DART, Android Studio for cross-platform Android/iOS/web app compatibility Backend: Supabase (PostgreSQL + Edge Functions) Trust Engine: trust_score = (referrals × 5) + (repaid_loans × 10) - (defaults × 15)

Challenges we ran into

Implementing SMS based transactions for free, as a proof-of-concept Dynamic trust score calculation in PostgreSQL Lender-borrower matching without real-time WebSockets Pivoting from geofencing to social graphs mid-development

Accomplishments that we're proud of

Built and deployed a decentralized lending stack Solved optimization and scalability challenges for low-income users. Implemented alternative credit scoring using on-chain behavior and community reputation.

What we learned

Community validation > AI scoring in low-literacy contexts SMS UIs need 3x more error handling than apps Micro-pools beat individual liability models Trust is quantifiable through social graph density

What's next for loan.ly

Voice-IVR Integration: For non-literate users Blockchain Ledger: Convert simulated ledger to Hyperledger Gamified Savings: Earn trust points by depositing to risk pools Disaster Mode: Auto-approve loans during IMD flood alerts Cross-Community Bidding: Expand trust networks via referrals

Built With

• android
• dart
• flutter
• postgresql
• studio
• supabase