Santiago Metropolitan Region, Chile
Other credit - Emerging Markets
Service with Minor Environmental Footprint
Lumni is a new kind of financial services company dedicated to ensuring that students everywhere can leverage their most valuable asset - their own future potential - to access financing for college. Unlike traditional student lenders, they fundamentally align the interest of their investors and students in a win-win relationship that benefits everyone. Lumni's investment funds don't make loans. Instead, students commit a fixed percentage of income for the 10 years after they graduate. This dramatically reduces the risk of unmanageable payments after graduation in the case of unemployment or underemployment, giving debt-averse, underserved college students the comfort to take a leap. Lumni also employs an innovative underwriting process, determining creditworthiness not on access to co-signer like traditional lenders, but instead on a student's personal drive and potential. This allows Lumni to identify qualified clients from with the country's most underserved populations, students who would be deemed too risky by private lenders. Finally, Lumni distinguishes itself by building a relationship with its students and supporting them with career coaching and development services.
Overall B Impact Score
Governance evaluates a company's overall mission, engagement around its social/environmental impact, ethics, and transparency. This section also evaluates the ability of a company to protect their mission and formally consider stakeholders in decision making through their corporate structure (e.g. benefit corporation) or corporate governing documents.
What is this? A company with an Impact Business Model is intentionally designed to create a specific positive outcome for one of its stakeholders - such as workers, community, environment, or customers.
Previous Overall B Impact Scores
Sign up to our Insights newsletter, a monthly digest of the latest news on economic systems change from B Lab Global.