Techtastic
Exploring the cutting-edge world of technology and its impact on society. Where innovation is driving everything from the way we work to the way we communicate, travel, and even think.
Credit Beyond Credit Scores - Ryan Rosett on Innovating Small Business Loans
In this episode, we talk to Ryan Rosett, founder and CEO of Credibly, a fintech company specializing in providing working capital to small businesses. Ryan explains how Credibly focuses on cash flow over credit scores, using advanced data models and generative AI to assess the risk and affordability for new businesses. We discuss the challenges faced by small businesses during economic downturns and how innovative lending practices can support their growth and stability. Ryan also shares insights into the evolution of the lending industry and Credibly’s efforts to streamline the borrowing process with cutting-edge technology.
Key Points
- Credibly focuses on leveraging cash flow data over traditional credit scores to evaluate the risk and affordability of lending to small businesses.
- The company has heavily invested in technology and data science, including the use of generative AI to improve risk assessment and streamline the lending process.
- Small businesses often struggle to access capital through traditional banks, making alternative financial technology lenders like Credibly essential for their growth and survival.
Chapters
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Transcript
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