MicroBilt Opens 50 Million Consumer Market to Small Businesses

MicroBilt Corporation announced today that it has acquired Pay Rent Build Credit, Inc, (PRBC), a leading provider of payment history data on consumers with "thin" or no credit histories. The acquisition will enable MicroBilt’s thousands of Small and Medium-Enterprise (SME) customers to access bill-payment data that goes largely unreported by the major national credit bureaus such as rent, utility, phone, insurance, cable, internet, and other recurring bill payments. This data provides the SME marketplace access to a huge source of new customers for their goods, services and products as there are over 50 Million adults in the United States with little or no credit history.

"Small and medium sized businesses, hit hard by the credit crunch, are looking for ways to reach new and emerging markets," says Bob Raleigh, Chairman of MicroBilt Corporation. "Access to PRBC’s deep repository of non-reported bill payment data will give small and medium enterprises ("SMEs") the opportunity to tap into a huge market of creditworthy customers and empower customers to take control of their entry into the world of credit-based transactions."

Customers of MicroBilt’s credit origination services include thousands of "buy here, pay here" auto dealers and local furniture stores, jewelers, RV and boat dealers, landlords, community banks and credit unions, many of whom serve the segments of the US population with little or no credit history – comprised mainly of young adults, senior citizens, new American citizens, and resident aliens to finance the purchase of a home or a car or to rent and furnish an apartment. The acquisition of PRBC will allow the SME market to establish a welcoming consumer brand that denotes that the establishment is PRBC Certified. This certification will signify that the business welcomes those without an established credit file and has been trained to facilitate the file building process with "Just in Time" credit.

"PRBC’s management believes in the power of MicroBilt’s market presence as a champion of small and midsized enterprises," says PRBC founder and Chief Development Officer, Michael Nathans. "This presence will allow more businesses and consumers to have access to the benefits of more complete and accurate credit reports and scores," he added.

Alternative Data Helps Consumers Join the Mainstream

Consumers with "thin" or no credit histories are faced with a "Catch-22" scenario – they cannot qualify for credit and build a credit history without first having enough of a prior credit history. Though many have a history of paying bills on time, consumers with little or no credit history are often at a disadvantage when applying for housing, car financing, insurance and employment. By helping creditworthy people build a credit history and gain access to traditional credit sources, PRBC’s service helps millions of underserved consumer segments, such as young adults, recent immigrants, widows, and those who have simply avoided the credit system, take the first step towards joining the mainstream economy. "Unbanked consumers and consumers with no credit history have suffered, historically by paying higher interest rates, having less flexibility in conducting business and falling victim to predatory practices," said Raleigh. "MicroBilt is committed to helping small businesses bring these consumers an equal credit opportunity and letting them share in all of the benefits of the modern economy. We are exploring a full array of programs from strategic partnering with foundations to consumer empowering products to expand on the vision of PRBC."

PRBC will have a presence on the reconfigured MicroBilt Board of Directors. "We look forward to the addition of PRBC members to the Board of Directors," noted Raleigh. "PRBC will help broaden our focus as they bring a wealth of experience and knowledge of this underserved market to the MicroBilt Board."

About PRBC
PRBC is a bill payment credit bureau that collects, stores, scores, and reports bill payment data in compliance with the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transaction Act (FACTA). It is the first credit repository to give prospective borrowers the tools to demonstrate their creditworthiness without the need to go into debt. PRBC receives payment data from financial institutions, check cashers, pre-paid credit and debit cards, and other electronic bill payment services when consumers choose to have their payments reported. In addition, PRBC has partnered with the National Credit Reporting Association to use industry best practices to independently verify historical trade line accounts and up to three years worth of prior bill payments that consumers can report directly to their personal PRBC file.

PRBC Reports(sm) comply with Fannie Mae’s, Freddie Mac’s, and FHA’s standards for documenting creditworthiness in the absence of a traditional credit history and score. PRBC does not charge consumers a fee to enroll in the service or to view their own file. Consumers and businesses can learn more about PRBC at www.prbc.com.

About MicroBilt
MicroBilt has been an industry leader in risk management information since 1978 and is an active member of the Consumer Data Industry Association (CDIA). A single source provider for credit bureau, collections, identity fraud prevention and screening data access and retrieval, MicroBilt is certified through and provides interfaces with the three national consumer credit bureaus, Equifax (NYSE: EFX), Experian (London Stock Exchange: EXPN) and Trans Union and three commercial bureaus, D&B (NYSE: DNB), Experian (London Stock Exchange: EXPN) and Equifax Business (NYSE: EFX), as well as LexisNexis (London Stock Exchange: REL), Fidelity National (NYSE: FIS), Fair Isaac (NYSE: FIC), Acxiom (NASDQ (GS): ACXM), First Advantage (NASDQ: FADV) and ChoicePoint (NYSE: CPS). With solutions optimized for small to medium enterprises (SMEs), MicroBilt provides flexible data access to leading Consumer Reporting Agencies (CRAs) and a broad range of industries at www.MicroBilt.com.