A credit model for small and medium-sized businesses

Financing for small and medium-sized businesses

Small and medium-sized enterprises (SMEs) make up 99% of all businesses in Norway, and employ 47% of the private sector workforce. In total, these corporations generate close to 700 billion NOK in annual turnover. However, in recent years, especially following the financial crisis, SMEs have faced more difficulty acquiring capital compared to larger corporations.

Crowdlending with FundingPartner

FundingPartner is a startup that provides a crowdlending platform designed for SME businesses. In order to efficiently do this, they require effective credit assessment models for SMEs.

Credit score models with machine learning

NR, in collaboration with FundingPartner, is engaged in a project funded by The Research Council of Norway. Our primary objective is to develop credit score models utilising machine learning techniques. The models will incorporate various data inputs, including accounting data, qualitative data and, over time, transaction data. Data input in the models will consist of financial data, qualitative data and eventually transactional data as well.

Project: A credit model for small and medium-sized businesses

Customer: FundingPartner

Period: 2020 – 2024