Startup Idea: Risk Assessment Software for Payday Loans

Startup idea to develop an algorithm-based software that determines and recommends when to allow increases in payday loan amounts and assesses the associated risk. This will assist in enhanced decision making, potentially decreasing risks and increasing profits for payday loan businesses. The proposer is ready to pay for this solution.

I work in the payday loan industry. Our current software does not recommend when to increase a loan amount. It would be helpful to have an algorithm that determines when to allow loan increases and how high of a risk increasing the loan would be.

I would pay for this software. If it could decrease the risk involved with increasing loans, it would increase our store's profit.