Banks Reject Small Business Credit Applications Five Times More Than Enterprise Clients, New Study Finds
Keeping Score: Why Data Quality Determines Lending Decisions
A new PYMNTS Intelligence report shows that despite their small scale, micro-businesses are crucial to local economic function. According to “Keeping Score: Why Data Quality Determines Lending Decisions for the Smallest Firms,” a collaboration with Markaaz, barriers to lending to this sector don’t just hobble lending—they stall the momentum of the very businesses that play a key role in keeping local economies running.
In this report, learn:
- Why many lenders still rely on incomplete, outdated records that stall approvals and raise risk
- How financial institutions can use trusted data from third parties to boost their lending and profits
- Why real-time, third-party data access that prioritizes speed provides actionable solutions that quicken underwriting decisions