CBA recently served as a consultant on IRC’s Center for Economic Opportunity’s (CEO) latest report, entitled Small Dollars, Big Impact: New Americans Building Credit. This groundbreaking impact study, which focuses on credit building loans, has yielded impressive results:
- 98% of borrowers who began without a FICO score were able to establish one in as little as six months of repayment
- 66% of these borrowers achieved a prime score of 660 or higher
The study also features in-depth interviews and quotes from 20 CEO borrowers, who share their experiences—both positive and negative—with the U.S. credit system. These personal accounts provide valuable insights into the challenges and successes faced by individuals working to build their credit.
You can access and download the full report by clicking the link below: