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Entrepreneurial Finance Lab (EFL)

Entrepreneurial Finance Lab (EFL)

Entrepreneurial Finance Lab (EFL)

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Entrepreneurial Finance Lab (EFL)

Africa, Asia, Latin America, United Kingdom

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Giving Credit Where Credit is Due. Working with leading financial institutions to help small businesses across the developing world gain access to finance.

About us

In plain English...

If you've ever applied for a credit card or a car loan or any type of loan, a bank uses a 3 digit credit score that is based on your past behavior of paying back on time and in full.  The better you are at this, the better your score, which enables you to get a loan for yourself, your business, whatever.  

However, in emerging markets where we work (Latin America, India, Africa, Indonesia), there are many, many successful and deserving small entrepreneurs that want to expand their business but can't because they don't have a history with a bank, so the bank won't lend to them.  We've developed a way to produce a credit score off of a person's inherent entrepreneurial characteristics - the higher one scores, the more likely one is to get a loan whereas otherwise they would be the "unbankable".  We believe that this is a very effective way to lifting people out of poverty and are on a mission to scale our technology.

The formal answer...

EFL has developed effective, automated and scalable tools to identify high potential, credit worthy entrepreneurs. These tools are based on psychometric principles, drawing on results from decades of research. The EFL Tools have been statistically proven to reduce risk and have been used by financial institutions in over 20 countries. Results have shown that the EFL Tools can reduce default rates and expand lending while carefully controlling risk.
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Why does it matter?

The biggest problem in development is getting access to finance for deserving individuals so they can improve their situation from the inside-out.  50 years of failed economic aid policies have proven that when you empower individuals to grow their business and thus their economy from within, rather than through Western aid, it's much more sustainable and ultimately more successful.  Credit provides freedom of choice to individuals, and outside of Western countries, it's very, very hard to get credit.  We make it easier.
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