Using data analytics to offer loans to new borrowers

Using data analytics Earnest is able to offer one-, two-, and three-year loans to new borrowers who have short credit histories, large student loans, or are just entering the workforce. These non-traditional borrowers are often overlooked by financial services institutions.

Interest rates, says Earnest's CEO Louis Beryl, “should be about what people deserve to pay, not what they would be willing to pay.”