Changing Lives by Building Credit History — One Microloan at a Time

In combatting poverty, a giant informal economic system has quietly emerged in Africa. Women participate in micro-finance organizations that loan money in order to allow them to create businesses and become self-managing.

Many subprime borrowers in the United States are financially unable to buy a home themselves. An unconventional lender is trying to make it easier for low-income people to buy houses despite the tighter requirements that other lenders adopted after the mortgage bust.

CitiStat has show great success in cities like Baltimore, where it has improved city services' efficiency (removing snow, fixing potholes, etc.). Many cities use Stat programs, but Baltimore has been a particular case of success. Looking at how it implemented its CitiStat program holds lessons for other cities.

A overview of 2014's Fixes columns - connecting the dots between 60 or so ways that people are trying to change the world.

Boston had a hard time solving civic problems efficiently and holding its leadership accountable. In response, a team in the Mayor's office was charged with "making Boston better through clever, low-cost hacks" such as a mobile app that allows residents to send government service requests to City Hall.

In an effort to break the cycle of poverty in Memphis, a government organization is using conditional cash transfers, paying students if they earn good grades and adults if they maintain a full-time job.

MoodGYM is an online program targeted to help those suffering from depression for whom it is a challenge to access therapy because of location or the stigma it carries. Essentially a therapy session in your pocket, the program allows users to access help at little to no cost, regardless of where they are or what time of day it is.

Most insurance companies avoid insuring poor farmers because the transaction costs are too high, but a non-profit in Kenya created a sustainable way to cover them.

Poor people are less likely to make smart financial decisions; however, new research in the U.S. says this is not about intelligence but rather about a brain being overwhelmed with issues related to poverty. To combat that barrier of stress, organizations around the world are making financial decisions easier for people experiencing poverty by making borrowing easier and automating future financial planning, like 401(k) contributions.

54 million people in the United States, and 4.5 billion globally, have no credit to their name - making it nearly impossible for them to buy homes, apply for jobs and receive loans. Investors and lenders make an effort to help those with 'invisible credit' scores in financing essentials like homes or cars.