From the course: Credit Secrets for Entrepreneurs

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Data can be used to evaluate your business

Data can be used to evaluate your business

From the course: Credit Secrets for Entrepreneurs

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Data can be used to evaluate your business

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- There's also additional data that could come into play when your business is trying to get financing or other benefits. For example, an increasing number of online lenders will ask for information about your business revenues, and they may even ask to connect to your business bank account to measure your income and expenses. Information about how long your company has been in business and the industry you're in could play a role in what kind of financing you're able to get. Social media data could also play a factor here. There's actually a new credit score created by experience exclusively on the small business side, not on the consumer side, that can evaluate business's social media activity in order to provide a risk score for that business. It's fairly new, but it's a reminder that your business's reputation is really important. You want to make sure that your information is accurate and you respond to anything…

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