US based credit repair specialist Enrich Financial is expanding into the UAE, targeting both local residents and expats for new business.
The credit repair industry in the US is now worth around $4.5bn, with nearly 50,000 specialist companies operating.
“It’s a booming market, especially post Covid-19,” says founder Arian Eghbali, adding: “You have a huge upturn in the economy and many people want to rebuild their lives, but are held back because of low credit ratings. That’s where we come in.”
Enrich Capital expands to UAE
The UAE has an existing credit bureau which runs checks on customers seeking loans. However, their scores are hampered by previous debt issues.
“You also have many US residents now starting a new life in the Middle East in places like Dubai. It can be tough to start again. Many of them have already got into formal debt repayment arrangements, but that still affects their credit scoring.
“We work with them to see how it can be improved, as there are many ways to do so,” he says.
Enrich Financial now has branches across the metro California area, including Los Angeles, San Jose, Encino, and Glendale. He also currently runs Radio Jan, the first-ever Armenian radio network outside its territory.
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