Alternative data helps complete the picture of a small business’s financial health.
Credit risk scoring is typically based on traditional credit data. But how do you determine if a business is creditworthy when that data is limited or non-existent, as is the case with most small and new businesses? If you automatically discount those companies, you could be missing out on some solid opportunities. But if you approve them without the data to back up your decision, you could be taking unnecessary risks.
LexisNexis® Small Business Credit Score can help you drive more approvals and enhance the profitability of your small business lending portfolio.
By combining it with credit data from the Small Business Financial Exchange (SBFE), you can obtain an even more reliable view of a small business, especially those without a robust credit history. The resulting score can also more accurately predict the likelihood of an account becoming delinquent.
Increase approvals and profitability by extending customized offers to qualified small businesses.
Take note of changes in customer risk profiles to spot opportunities for cross-sell or risk mitigation.
Reach out to delinquent consumers to help rehabilitate them and mitigate losses.
Learn more about how highly predictive Small Business Credit Score can provide a sharper customer focus.
Learn how Small Business risk solutions leverage alternative data to provide critical insights.