Getting information on small and mid-sized businesses is much easier now with the LexisNexis Small Business Credit Score Report. Lenders can quickly answer questions about applicants and address issues across the customer lifecycle including origination, onboarding, monitoring, upsell/cross-sell and collections. The Small Business Credit Score Report gives lenders an easy way to vet small businesses, mitigate risk and grow their share of the more than 30 million small and mid-sized businesses in the US.
Beyond the Traditional Credit Report for Better Small Business Decisioning
Historically, the credit report has been the foundational product that financial institutions and other credit-issuers have used to assess an applicant’s creditworthiness. But finding accurate and applicable small business data can be challenging, because many small businesses have a limited credit footprint. As a result, locating relevant information on the business can feel like an incomplete and inefficient data chase. And despite advances with analytics and automated decisioning, financial institutions continue to require data that human analysts can view and assess. Bankers rely on credit reports in their processes today and will continue to into the future.
Harness the Power of Alternative Data to Grow Your Small Business Segment
The LexisNexis® Small Business Credit Score Report delivers unmatched decisioning insight by combining more than 10,000 sources of alternative data with advanced analytics and linking to decision no-file and thin-file applicants with confidence. Leverage this report in account origination, underwriting, account and portfolio management, exception processing, onboarding and term optimization to grow your small and mid-sized business segment while minimizing risk.
The LexisNexis Small Business Products with or without SBFE Data services are not provided by “consumer reporting agencies,” as that term is defined in the Fair Credit Reporting Act, 15 U.S.C. § 1681, et seq. (“FCRA”) and do not constitute “consumer reports,” as that term is defined in the FCRA. Accordingly, LexisNexis Small Business Products may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another purpose in connection with which a consumer report may be used under the FCRA. Due to the nature and origin of public record information, the public records and commercially available data sources used in reports may contain errors. LexisNexis and the Knowledge Burst logo are registered trademarks or RELX Inc. SBFE is a registered trademark of Small Business Financial Exchange Inc.
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