JPMorganChase Funding Opportunity for CBA Lender Members

With generous support from JPMorganChase, Credit Builders Alliance (CBA) is providing a new program from November 2024 to August 2025. This program will incorporate consumer-permissioned data using the VantageScore 4^plus, which can offer up to a 10% predictive lift for individuals with thin credit files or those new to credit. The cohort will track the impact of consumer permissioned data on its participating borrowers and receive the following exclusive benefits:

A $10,000 grant

Two scholarships to CBA's signature training: Credit as an Asset

One voucher for the 2025 CBA annual symposium

Individualized technical assistance

Inclusion in a peer group of nonprofit lenders who want to expand financial inclusion

CBA invites you to apply for this impactful cohort if you:

Serve LMI and/or BIPOC borrowers

Have the staff capacity to implement a new program and get 100 borrowers to participate in the pilot

Are interested in testing the impact of consumer permissioned data

Priority will be given to nonprofit lenders based in the following areas:

New York City, Greater Washington, Baltimore, Richmond, Miami, Ft. Lauderdale, West Palm, Wilmington, Chicago, Columbus, Greater Dallas, Ft. Worth, Plano, Houston, Bay Area, Los Angeles, Phoenix, Atlanta, Boston, Minneapolis / St. Paul, Philadelphia, Birmingham, Des Moines

If your organization meets the above criteria, please fill out the application below. You can reach out to kayla@creditbuildersalliance.org with any questions about the opportunity.

Priority will be given to groups based in the geographic areas listed above that submit an application by 5:00 pm ET on Friday, October 11, 2024. The general deadline is due by 5:00 pm ET on November 8, 2024 (or until the first 10 groups are selected for the cohort).

Organization Information

Organization Full Legal Name

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Please do not enter a placeholder EIN like "99-9999999"

Organization Website

Physical Street Address

Physical City

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Physical State

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Contact Information

Primary Program Contact

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Secondary Program Contact

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Portfolio Information

What state(s) do you lend in?

Do you serve LMI and/or BIPOC participants?

YesNo

What credit report(s) do you currently review when making lending decisions?

Please specify other credit report

What credit score do you currently make lending decisions on?

Please specify other credit score

What is the minimum credit score required to approve a borrower?

Pilot Participation

The VantageScore 4 and VantageScore4 plus consumer permissioned data can only be used for analysis purposes only. To remain in FCRA compliance, these scores cannot be used to make any lending decisions. By checking this box, you confirm that you will follow these criteria and FCRA compliance.

Why are you interested in consumer permissioned data?

If selected, does your organization have the capacity for two staff members to attend four cohort meetings (~4 hours total), participate in CAAA (Credit as an Asset) (~6 hours), reach out to past borrowers to get 100+ of them to participate in the pilot, track the impact of VantangeScore 4plus on credit scores, and attend the 2025 Symposium?

YesNo

How many borrowers do you have in your current database that you could offer to participate in the pilot?

What strategies would you use to get borrowers to participate in the pilot?

Would you be interested in using consumer permissioned data if the pilot is successful?

YesNoMaybe

Please use the space below to include anything else that you would like to share

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