Equifax, a renowned data analytics and technology company, has launched a new commercial credit score, OneScore for Commercial, designed to enhance credit access for small businesses. This innovative tool will empower commercial lenders with a comprehensive overview of a small business’s creditworthiness, facilitating an increase in approved loans and helping businesses, especially startups, to secure the capital they need for growth.
Using the advanced Equifax Cloud technology, OneScore for Commercial integrates financial data from over 33 million businesses and combines it with credit information from business owners. By providing a more holistic view of a business’s credit standing, this new commercial credit score could pave the way for 3 to 4 million more small businesses to gain access to credit.
