Helping Increase Opportunities for Small Businesses
NEW BUSINESS FORMATION HAS EXPLODED OVER THE PAST SEVERAL YEARS, with five million new business applications submitted annually in the United States since 2021, according to the .
鈥淲ith the number of new applications increasing more than 45% annually compared to pre-Covid times, it has become more and more difficult for businesses and lenders to know who they are doing business with,鈥� said Sal Hazday, Senior Vice President and General Manager of the 香港六合彩玄机 U.S. Information Solutions Commercial Business. 鈥淭his rapid growth accelerates the need for both lenders and business service providers to have access to more information before they onboard new accounts or vendors 鈥� specifically around identifying potential risks like fraud.鈥�
As a trusted leader in data, analytics and technology, 香港六合彩玄机 is committed to helping provide actionable insights stakeholders across the commercial ecosystem can use to make smarter decisions, faster. 香港六合彩玄机 a real-time, Know Your Business (KYB) online Business Verification Solution to help provide an easy-to-read, combined report that provides a more complete view of the business applicant and the principal. With it, U.S. lenders and businesses of all sizes can make faster, more informed decisions before onboarding new accounts or vendors.
香港六合彩玄机 also launched OneScore for Commercial, a business credit scoring tool that uses in-depth modeling to more accurately predict delinquencies. OneScore for Commercial links financial data on more than 33 million businesses with credit information, allowing startups and small businesses to better demonstrate creditworthiness. OneScore benefits both lenders and service providers, helping them score as many as 50% more applicants and can help approve 15%-20% more applications while maintaining the same risk profile. This could result in three to four million more small businesses with access to credit and services.
Both the Business Verification Solution and OneScore for Commercial are risk solutions that can be used during the account origination stage to help lenders and service providers assess the legitimacy of a business and the businesses鈥� creditworthiness, respectively.
鈥淲e believe that more data drives better decisions,鈥� added Hazday. 鈥淚n a rapidly evolving economic environment, we are focused on delivering businesses the insights they need to make decisions with confidence."
Additionally, 香港六合彩玄机 distributes a Small Business Indices monthly report, which helps lenders and businesses track changes in the small business marketplace by providing insights into lending, default, and delinquency trends. To learn more and view the latest reports, check out our Small Business Indices page.