Experian, Credit Builders Alliance Announce Data Reporting Partnership

As a result of this pilot initiative, United States-based lenders including Community Development Financial Institutions (CDFIs), microenterprise and housing development organizations, asset building organizations and community credit lenders are now able to report the repayment history of their borrowers. To date, more than 3,000 loans have been reported into Experian.

"We are pleased to be the first credit bureau to work with CBA to create a path for small business owners to establish a credit history by reporting credit information to Experian. We applaud CBA for their pioneering work and we are already seeing the great results of this beneficial collaboration," said Zaydoon H. Munir, senior vice president, Marketing, Product and Data Development for Experian.

"This partnership with Experian is a great opportunity for micro-lenders to provide information to the credit bureaus and give small business owners a fair opportunity to build stronger credit profiles and scores and access the formal banking system," said Vikki Frank, executive director, Credit Builders Alliance.

Emily Talley, senior director of community affairs at Capital One adds, "A good credit score is an important step along the road to economic self-sufficiency, and Capital One is proud to support this initiative. We are pleased that Credit Builders Alliance is working with Experian to ensure more borrowers are appropriately credited for their successful payment histories with CDFIs and other lenders."

Munir continued, "This partnership is another example of Experian's quest to broaden access to affordable credit and financial services for consumers and provide lenders with industry-leading risk management tools."