→ skos:prefLabel → "Experience-Based Customer Credit"@en
→ od:hasContext → "Traditional banks tend to decline loans to base of the pyramid and low-income groups because of high transaction costs and a lack of collateral and credit history."@en
→ od:hasExample → "[Promigas], a natural gas utility in Colombia, issues credit for renovations and housing appliances to homeowners, only if those homeowners have paid off their connection fees. "@en
→ od:hasLFId → "P9", "P7_3"
→ od:hasProblem → "Base of the pyramid and low-income groups lack access to financial services and thus financial literacy. They often just need small amounts of money to buy muchneeded things or engage in local business."@en
→ od:hasReference → "(Jenkins et al., 2011)"
→ od:hasSolution → "Providing access to credit (as a non-bank) based on former experience with the customer, instead of formal bank applications. Lending is not based on a customer’s credit history, but on other transactions in the past."@en