The Washington Business Journal, December 27, 2022, D.C.-based NCRC Community Development Fund using AI to increase lending capacity
NCRC Community Development Fund, a subsidiary of the National Community Reinvestment Coalition, lends primarily to Black, Latino, women and immigrant entrepreneurs and business owners throughout the country. Its new lending platform – for which it is also building an algorithm to determine loan eligibility – stands to make the roughly 10-person operation more efficient, Marisa Calderon, NCRC CD’s executive director, said in a recent interview.
NCRC has been outspoken about the need for regulation to ensure fairness in lending decisions made with the help of artificial intelligence, but Calderon noted that bias can exist in both manual and automated decision making.
