This National Science Foundation (NSF) Technology, Innovation, and Partnerships (CFDA 47.084) Project Grant award in the amount of $274,541 to Salus Financial Technology Inc., a minority-owned for-profit business, aims to develop a digital underwriting platform for small dollar loans to serve traditionally underserved borrowers. The platform will use innovative techniques to more effectively assess credit risk and facilitate equitable lending decisions for borrowers who lack access to traditional credit and loans. Upon completion, the project will demonstrate that the alternative underwriting methodology can generate lower default rates and more equitable lending outcomes compared to traditional credit scores.
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