EFL has spent over six years developing and pilot-testing our technology.

Tens of thousands of entrepreneurs across dozens of countries and languages have used our application, from 1-person microenterprises borrowing $800 to medium sized enterprises receiving financing of over $500,000.


  • EFL applications are able to meet and exceed the predictive power of credit scoring models in developed countries, which use audited financial statements and require a credit history.
  • Our test can be used on microenterprises and SMEs who don’t have financial statements and credit histories.
  • Simulated impact on these samples show a reduction in default from 20-45%. Ginis of 40% or more.
  • EFL partner banks triple their lending volume without increasing risk, tapping into new segments with little competition.


What screening power does EFL add?



Macroeconomic Impact

The low transaction cost and highly scalable nature of EFL enables rapid global adoption and therefore creates a significant social impact. If the distortion in the firm size distribution in developing countries was removed and the distribution regularized, thus “filling” the missing middle, estimates suggest that the GDP across developing countries would increase by over $3.6 trillion dollars annually. This shift would create millions of new SMEs in a handful of our countries of operation alone: 2 million in Nigeria, and over half a million in each of Kenya, South Africa, and Colombia. By filling in the missing middle SMEs would have a significantly larger impact than that of the microfinance revolution, given the much larger employment and growth contribution of SMEs compared to informal microenterprises.


Entrepreneur Impact

Florence W. Nairitu

"The security is a big, big problem. You want the money, you don’t have the security. You go to that bank, and maybe they give you just small money — and yet you see now the economy and how it is, that money is going to make you have a headache. Because it’s not enough to get the goods, it’s not enough to clear and to buy the goods."  




27 countries
28 languages
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