Micro, small and medium-sized enterprises have a combined credit need of up to $2.5 trillion globally. This need is due to an intractable standoff between lenders desperate to capture this market, and borrowers unable to convey their creditworthiness in the antiquated ways demanded of them. Could credit scoring innovations utilizing non-traditional data ease the standoff?
Through 2012, EPM’s social funding program benefited more than 120,000 families by providing loans worth US$69 million. By the end of 2013, the Colombian utility expects to serve nearly 33,000 new families and deliver an additional $US28 million in loans.