R3 Score and the Association for the Company
BALTIMORE, MD, September 16, 2021 (GLOBE NEWSWIRE) –
Refused small businesses will be rated using an R3 score and receive a second review for potential loan approval by lenders
Going through NewMediaWire – Global Boatworks Holdings, Inc. (OTC: GBBT), (“Global” or “the Company”), an innovative provider of better contextualized data to businesses for 1 in 3 Americans with criminal records and consumer credit records, announced today expanding a pilot project in conjunction with the Association for Enterprise Opportunity (“AEO”) that aims to serve small businesses across the country that are owned by people living with a history of arrest and / or conviction.
AEO is the leading voice for microfinance and microenterprise innovation in the United States. AEO and its 2,700 member and partner organizations have helped millions of Americans access resources and services to build wealth, assets, and healthy communities through business ownership. The Capital One Financial Corporation grant to AEO enables R3 Score and AEO to support community lenders known as Community Development Financial Institutions (CDFIs) to increase small business access to neglected consumer profiles. This is the second year that Capital One Financial Corporation has funded this work. The extra year helps expand the flow of transactions to CDFIs across the country, assessing both criminal justice and lending risk with the goal of increasing small business lending to entrepreneurs living with criminal records .
The pilot expansion announced today specifically brings a new pipeline online – applicants who have been denied capital by an online lender will receive a second opportunity to obtain financing through a ‘second look’ program. ”Using the R3 score.
“The partnership with AEO has provided key resources to micro and small businesses across the country during very difficult times, so we are excited to expand this pilot to reach even more entrepreneurs living with cases. This pilot is part of a larger marketing strategy we have launched to attract more CDFIs as customers. This expansion with AEO is encouraging in our efforts to advance our FinTech model, ”said Laurin Leonard, CEO of GBBT.
“R3 Score’s innovative approach to contextualize data and help resolve a national crisis. Access to capital for some of the most disadvantaged entrepreneurs is revolutionary, ”said Connie E. Evans, President and CEO of AEO. “The opportunity to help prevent recidivism and create economic opportunity can have a double positive impact. AEO’s commitment to various entrepreneurs, and in particular to entrepreneurs living with cases, has been incorporated into a strategic effort known as Endeavor Ready 2.0, with various programmatic supports for CDFIs and entrepreneurs.
About Global Boatworks Holdings, Inc. and R3 Holdings, Inc.
Global entered into a definitive share exchange agreement with R3 Technologies, Inc., based in Baltimore, Maryland on September 23, 2020. R3 Holdings, Inc. is a SaaS company that provides a plus criminal history report contextualized and alternative credit score for use by businesses of all sizes and in all industries. R3’s AI-powered financial software platform uses proprietary data-driven scoring designed to unlock valuable new insights about financial services employees and consumers using a multifactor algorithm based on 11 factors assessing character, ability and current choice. To learn more about R3 Score, visit www.R3Score.com.
About the Association for the Business Opportunity (AEO)
AEO is the leading voice of innovation for microenterprises and microfinance. We create economic opportunities for underserved entrepreneurs across the United States. We design transformational change through research, incubation, convening and advocacy to foster a robust and inclusive market. For more information, visit aeoworks.org.
Forward-looking statements
This press release may contain “forward-looking statements”. Forward-looking statements reflect the current view of future events. When used in this presentation, the words “anticipate”, “believe”, “estimate”, “expect”, “the future”, “intend”, “plan” or the negative of these Similar terms and expressions, with respect to us or our management, identify forward-looking statements. These statements include, without limitation, the statements contained in this presentation regarding the views of the management of R3 Score Technologies, Inc. (the “Company”) regarding its business strategy, future results of operations and its results. prospects for liquidity and capital resources. . Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The actual results of the Company may differ materially from those contemplated by forward-looking statements. They do not constitute statements of historical facts or guarantees of future performance. We therefore caution you against relying on any of these forward-looking statements. Factors or events that may cause the Company’s actual results to vary from time to time may occur and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, activity levels, performance or achievements. Except as required by applicable law, including United States securities laws, the Company does not intend to update any forward-looking statements to conform such statements to actual results.
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