How Our Products Differ
EnrichHER, a 100% diverse team led by a black woman, is a reflection of the demographic we serve. It is easy for us to establish trust with our customers. This allows us to maintain a very low cost of customer acquisition and in turn, offer more competitive rates and pricing on our products and services. The main differentiator is our holistic approach to fueling and supporting our customers.
EnrichHER expands the market of who can obtain working capital through creating algorithms that reduce underwriting bias, resulting in a more inclusive and community based approach versus traditional lenders. EnrichHER's unique and proprietary underwriting model leverages financial attributes, marketing analytics, and quantitative and qualitative elements extracted from community participation. This allows our customers to grow their business while getting all the money that they want and need, and retain full ownership of their success, without having to put up collateral.
All borrowers are asked to complete our financial training programs to ensure they are optimizing usage of any funds received. These training programs are created and tailored specifically with our target demographic in mind and presented with various learning styles. It provides one-on-one support, peer-support, and more personalized interactions. Participants gain practical tools to access grants, loans, venture capitalists and other untapped sources of funding. Participants gain access to a community of support from like-minded entrepreneurs. As a result of this model, we have a 0% default rate on our loans and we can happily report that all participating businesses are still open and thriving.
EnrichHER provides networking opportunities to facilitate founders with access to resources and tools to better their businesses. Our in-person and virtual events bring together beneficial content, speakers, and opportunities to learn from each other. Any in-person activation we have hosted has sold out.
Part of our success model includes support through our various trusted partners. EnrichHER has teamed up with other trusted names, such as Hello Alice, Logitech, PayPal, and Women 2.0, to promote our products and services. Hearing from a trusted source adds credibility and makes us stand out even more.