Giving Credit
Mobile app and credit‐reporting platform that tracks and rewards peer‐to‐peer lending to expand mainstream credit for underserved communities.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $25.0k | Grant | |
| Total Funding | 000k | ||
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Giving Credit operates as a social credit network focused on amplifying community finance by enhancing transparency within informal lending networks. The platform aims to mitigate risks for peer-to-peer lenders by offering loan guarantees to protect against potential losses.
A core feature of its service is the reporting of informal loan repayments to credit bureaus, a mechanism designed to help borrowers build a formal credit history. Additionally, the system enables lenders to deduct loan losses from their Federal income taxes, providing a financial incentive and safety net.
The organization was co-founded by Blair Miller and Ryan C. Nichols. Blair Miller, the CEO, has a background in impact investing and community development finance, having worked at the U.S. Agency for International Development (USAID) and co-founded the impact investing firm Blue Dot Advocates. Ryan C. Nichols has experience in technology and social enterprise. Their combined expertise in finance, technology, and social impact underpins the company's mission to formalize and secure informal lending, thereby fostering economic empowerment in communities.
Keywords: community finance, social credit, peer-to-peer lending, informal lending, credit building, loan guarantees, microfinance, impact investing, financial inclusion, fintech