We know that 7 out of 10 hardworking young adults in the United States have a poor credit score.
The U.S. credit system is the first big barrier that many people face to progress.
By bringing credit closer to people with a low score, we help integrate more people into the system, giving them opportunities to progress.
Access to credit is one of the most essentials for enjoying financial freedom and upward mobility in the United States.
However, typical underwriting rules and credit-score benchmarks make it very hard for those who have less resources or no credit history to receive financial services. With no access to credit, hardworking people are unable to create their own history, feeding a vicious circle we call the Credit Paradox.
To break this cycle, we have the loMsy Evaluation Methodology (LEM): a revolutionary way for assessing the creditworthiness of people who apply for a loan. LEM leverages not only information from traditional credit bureaus, but also from non-traditional reporting agencies and partners to create a multi-dimensional and fairer methodology.