Regarding the increase in small business owners seeking business financing through digital channels, BoeFly was featured this past Sunday in the ‘The Guardian’; a New York based online newspaper. The article focuses on how more alternative lenders are utilizing social media outlets to do due diligence on business borrowers.
“Social media is an easy and credible source of information for screening companies, said Charles A Krugel, a Chicago-based labor and employment attorney.”
For lenders that mainly produce business development online, they are more prone to not only look at revenue and credit but also a business’s social media reputation.
What are they followers and fans saying about them?
How are they handling consumer comments and complaints?
Do they even have a brand identity on social media?
Social media is becoming a new credible resource for lenders to take advantage of before ultimately making the decision to loan out capital.
BoeFly, among a few other lenders were highlighted as loan outlets that exist in a space where they are easily obtainable for borrowers, and can rely information and approvals back in real time.
“Christine Pratt, a senior analyst with Boston-based Aite Group points to New York City-based BoeFly.com as a lender of the future.”
Read Full Article Here: Want a loan for your business? The loan officer is checking your Facebook and Twitter comments