The Madeleine Brand Show for June 20, 2012

Lending circles a new way to build credit

The California Report

californiareport.org

You know those times you've lent money to family or friends? It might have helped your karma, but it never affected your credit score. Even though lending and borrowing from banks can boost your credit profile, person-to-person transactions have never been factored in.

But that could soon change. There's a non-profit in San Francisco's Mission District that's found a way to report these social loans to credit bureaus.

Reporter Sam Harnett has the story.


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