First Access

Country  Tanzania 
   
Beneficiaries              Borrowers in informal markets 
   
Project Description  First Access provides credit analysis based on mobile phone records and other information. The company combines financial and mobile data to reliably predict credit risk for borrowers in informal markets, which dramatically reduces costs and losses for lending institutions. The aim is to bring more reliable information to financial service providers in informal markets, so that more capital can be deployed at a lower cost. They deliver analytics through a user-friendly app for low-tech environments. http://www.firstaccessmarket.com 
   
Scope of Legal Assistance  Sidley is assisting First Access in reviewing the term sheet/purchase agreement for loans and investments from several investors. 
   
Team of Lawyers  Patrick Liu, Timothy Spangler