Before Jeff Stewart could credibly advance the notion that your Facebook friend network could—or even should—help you get a loan, he had to prove the system worked and was reliable.

Before Jeff Stewart could credibly advance the notion that your Facebook friend network could—or even should—help you get a loan, he had to prove the system worked and was reliable. It took a long time. I first met him in 2012, a year after he’d launched Lenddo, pitching it as a new way for people just entering the middle class to qualify for and receive loans. His startup planned to use Facebook data to assess credit risk, and to make loans to well-qualified candidates, starting in the Philippines.

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