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2008
Experian and CBA establish data reporting for microlenders
May 16, 2008
Experian ®, a global information services company, and Credit Builders Alliance (CBA), a nonprofit organization have joined together to launch a data-reporting partnership that enables CBA’s members to report microloan repayment data to Experian. This relationship enables CBA members, community lenders from across the nation, to professionalize their portfolios while helping thousands of entrepreneurs build a credit history, an important step in establishing access to capital and financial self-sufficiency. Read Press Release>>
CFSI announces $250,000 grant to CBA
February 12, 2008
Chicago – The Center for Financial Services Innovation announced a $250,000 grant award to Credit Builders Alliance (CBA). This award, together with the release of a request for proposals for the CFSI's new Nonprofit Opportunities Fund last week, marks a significant financial development in CFSI's support of innovative nonprofit organizations focusing on the underbanked consumer. Both the award to CBA and the new fund have been made possible thanks to a financial commitment from the Wal Mart Foundation. Read Press Release>>
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2007
MicroFinance Plus: Molding banking and financial services to the real-life needs of the poor
by Susan V. Berresford
Ford Reports Number One, 2007
Poor people have difficulty borrowing money to buy a car or a house or qualifying for insurance because they lack the formal credit history others obtain by making regular mortgage payments. A low-income family’s monthly rental and utility payments often fail to provide financial institutions with the credit history that will qualify them for a loan. To overcome that barrier, Ford and the Center for Financial Services Innovation (CFSI) have helped capitalize PRBC, a new credit bureau that captures non-traditional data to help the disenfranchised build a credit record and ultimately qualify for mortgage loans. In addition, Ford and CFSI have supported the creation of Credit Builders Alliance, a nonprofit that will enable U.S. microlenders to report client repayment history to the credit bureaus, something most of them currently cannot do (Creating a Credit Record, pp 21). Download Report (pdf)>>
Credit Builders Alliance launches at microenterprise conference
May 15, 2007
Kansas City, Missouri – Credit Builders Alliance (CBA) launches its new products and services.
New Alliance helps legitimize US microfinance lenders
May 10, 2007
Washington, DC -- Today, Credit Builders Alliance began offering community lenders of all sizes the opportunity to report data to a major credit bureau.
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