40% of Americans don’t have a prime credit score. These individuals are hit with unexpected expenses at a higher rate than those with prime credit scores, but they are 10 times more likely to be rejected for credit — especially from traditional credit providers like banks and credit unions. This leaves millions of Americans without access to safe credit options when they need them.
Enova was founded in 2003 to help fill this credit gap. We were one of the first companies to deliver loans and financing entirely online. What started as one product in one state expanded to 10 states within a year, and by year four we had funded 3 million transactions. Enova (ENVA) is now a $1B publicly-traded company offering a range of innovative financial solutions to individuals and small businesses. We have issued over $27 billion in loans to more than 6 million customers across the world.
David Fisher, Enova’s Chief Executive Officer, said, “We’re a mission-driven organization helping hardworking people get access to fast, trustworthy credit. Our Focused Growth strategy has enabled us to grow rapidly and deliver on that mission with world-class products and services.”
Our Secrets to Success
The driving forces behind our success are our technology, data, and advanced analytics — and, of course, our people. These competitive advantages enable us to make decisions rapidly and at scale. They have also allowed us to launch a breadth of credit options that provide people with pathways to climb the credit ladder. In addition, we leveraged these capabilities to launch our Enova Decisions analytics-as-a-service offering, which helps businesses across a variety of sectors automate and optimize operational decisions through machine learning, in real-time and at scale.
Our Culture
Much of Enova’s success can be attributed to our people and culture. Our Values of Customer First, Accountable for Results, Operate as an Owner, Best Answer Wins, and Top Talent and Teamwork are central to who we are and how we operate. By focusing on making Enova an awesome place to work, we’ve created an environment where our smart team members are empowered with the tools and support they need to contribute meaningfully, drive results and grow their careers — all while delivering on our mission of helping hardworking people get access to fast, trustworthy credit.
