Initiatives for financial inclusion have come from the financial regulators, the governments and the banking industry. While the banking sector has taken several steps to promote financial inclusion, legislative measures have also been initiated in some countries.
Owing to the similarities of the small business in terms of being individual centric, the principles utilized for making lending decisions to individual borrowers under the credit scoring model were extrapolated to meet the credit requirements of small businesses. In the mid-1990s, Fair Isaac and Company introduced one of the first credit scoring models developed exclusively for SMEs, the Small Business Scoring Service (SBSS).