{"id":3664,"date":"2017-08-28T17:58:29","date_gmt":"2017-08-28T17:58:29","guid":{"rendered":"https:\/\/risky.tv\/?p=3664"},"modified":"2017-08-28T17:58:29","modified_gmt":"2017-08-28T17:58:29","slug":"inventure-loans","status":"publish","type":"post","link":"https:\/\/risky.tv\/inventure-loans\/","title":{"rendered":"Smart Loans For Those With No Credit Score"},"content":{"rendered":"<p>An innovative new way to decide on whether or not to loan someone money and how much. It\u2019s pretty smart! =)<\/p>\n<p>From FastConpany:<\/p>\n<blockquote><p>Microfinance banks generally give small loans to people with no credit scores, but that means \u201cthere\u2019s no real data to answer the question, \u2018<strong>What\u2019s my basis for investing in this person?<\/strong>\u2019\u2009\u201d says Shivani Siroya.<\/p>\n<p>She\u2019s the CEO of InVenture, a certified B Corporation with an inventive solution: software that prospective borrowers willingly download onto their Android phones, which monitors and crunches 10,000 indicators of each person\u2019s level of responsibility.<\/p>\n<p>For example, are the majority of someone\u2019s calls longer than four minutes? Good: They may have stronger relationships and be a better credit risk. And this is helping Siroya make the right bets. In 2014, the software\u2019s first year, InVenture accepted 50% of applicants, for a total of more than 6,000 loans.<\/p>\n<p>Most were between $20 and $100, with no fees and just 5% interest. The repayment rate was 85%, and more than 75% of applicants returned for a repeat loan.<\/p>\n<p><strong>InVenture currently operates in Eastern Africa, India, and South Africa, where 2.5 billion people have no credit score<\/strong>\u2014and where, because many banks won\u2019t help these data-free borrowers, loan sharks have free rein.<\/p>\n<p>Siroya observed this during her years working on emerging markets and micro\u00adfinance at investment banks, the UN, and UNICEF. \u201cI just wanted to solve this problem,\u201d she says. And now InVenture goes even further, offering mobile and web tools for individuals to help manage their finances, their businesses, and, eventually, their newfound savings.<\/p><\/blockquote>\n<p><span itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\"><meta itemprop=\"name\" content=\"Smart Loans For Those With No Credit Score\" \/><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/risky.tv\/wp-content\/uploads\/2017\/08\/j_e43zz3hnk.jpg\" \/><meta itemprop=\"description\" content=\"An innovative new way to decide on whether or not to loan someone money and how much. It\u2019s pretty smart! =) From FastConpany: Microfinance banks generally give small loans to people with no credit scores, but that means \u201cthere\u2019s no real data to answer the question, \u2018What\u2019s my basis for investing in\" \/><meta itemprop=\"uploadDate\" content=\"2017-08-28T17:58:29+00:00\" \/><meta itemprop=\"embedUrl\" content=\"https:\/\/www.youtube.com\/embed\/j_E43zz3hnk\" \/><meta itemprop=\"duration\" content=\"PT4M48S\" \/><meta itemprop=\"isFamilyFriendly\" content=\"false\" \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An innovative new way to decide on whether or not to loan someone money and how much. It\u2019s pretty smart! =) From FastConpany: Microfinance banks generally give small loans to people with no credit scores, but that means \u201cthere\u2019s no real data to answer the question, \u2018What\u2019s my basis for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cash-flow"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Smart Loans For Those With No Credit Score &#8211;<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/risky.tv\/inventure-loans\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Smart Loans For Those With No Credit Score &#8211;\" \/>\n<meta name=\"twitter:description\" content=\"An innovative new way to decide on whether or not to loan someone money and how much. It\u2019s pretty smart! =) From FastConpany: Microfinance banks generally give small loans to people with no credit scores, but that means \u201cthere\u2019s no real data to answer the question, \u2018What\u2019s my basis for [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/risky.tv\/wp-content\/uploads\/2017\/08\/hqdefault-31.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@riskyvideo\" \/>\n<meta name=\"twitter:site\" content=\"@riskyvideo\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/risky.tv\/inventure-loans\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/risky.tv\/inventure-loans\/\"},\"author\":{\"name\":\"Risky.tv\",\"@id\":\"https:\/\/risky.tv\/#\/schema\/person\/779ae4f07b5ba36821be401dccdaa0a4\"},\"headline\":\"Smart Loans For Those With No Credit Score\",\"datePublished\":\"2017-08-28T17:58:29+00:00\",\"dateModified\":\"2017-08-28T17:58:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/risky.tv\/inventure-loans\/\"},\"wordCount\":265,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/risky.tv\/#organization\"},\"image\":{\"@id\":\"https:\/\/risky.tv\/inventure-loans\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/risky.tv\/wp-content\/uploads\/2017\/08\/hqdefault-31.jpg\",\"articleSection\":[\"Cash Flow &amp; 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