Assess the Creditworthiness of Small Businesses Using Alternative Data
Drive portfolio growth while managing risk.
Small businesses are often called the backbone of the U.S. economy. And for good reason. The U.S. has approximately 30 million small businesses. They comprise 99.9% of all U.S. businesses.1 For lenders, they represent opportunity, but it’s not without risk.
Small businesses are often self-funded in the startup phase. With little or no borrowing history, lenders may not be able to look to traditional data sources to assess a small business’s creditworthiness. It’s not surprising they’re hesitant to take a chance on small businesses when they can’t find any information about them.
The LexisNexis® Small Business Credit Report fills that gap. It uses alternative data sources to fill in the blanks that traditional data sources may not be able to. It provides a clearer view for decisioning on business:
- Account origination
- Underwriting
- Exception-processing activities
- Term optimization
- Account and portfolio management
By removing guesswork from the equation, lenders can feel more confident in expanding their portfolio to better support small business customers who show good growth potential.
Benefits
The LexisNexis® Small Business Credit Report provides you with the information you need to make informed business lending and onboarding decisions.
- See data on small businesses with little or no borrowing history
- Be more confident in gauging risk
- Segment risk with a detailed view into a business’s financial stability
- Optimize lending terms based on a business applicant’s profile and credit risk
- Improve lending outcomes
Features
- Non-FCRA product
- Available via online data and API
- Applies sophisticated linking technology and analytics to connect the dots
- Offers a robust picture of a small business
- Insights on more that millions of U.S. business entities
- Data comes from thousands of sources including many alternative sources
- Includes small and new businesses that may be “invisible” in traditional credit sources
- Find out about any bankruptcies, judgments, and liens
Want to know more? Contact a salesperson for details today.
1. https://pieinsurance.com/blog/small-business-resources/how-many-small-businesses-are-there-in-the-us
Related Products
-
Small Business Attributes
Gain a clearer view of no-file or thin-file small businesses with alternative data attributes.
Learn More -
Small Business Attributes with SBFE Data
Expand your market by combining the best credit and non-credit data.
Learn More -
Small Business Credit Report with SBFE Data
Expand your small business market share through improved risk decisioning
Learn More