How Social Media Is Influencing Business Loans

MoneyTips

When applying for a loan, most small business owners assume they will be evaluated only on the information they supplied on their application, but that’s not always the case. In fact, when applying for a loan from an online lender, that lender often takes into account things such as the social media profile of the business before making a decision. Lenders with a physical location take a look at Facebook, Yelp, and other social media sites to better check a business loan applicant.

Lenders are looking at these profiles to get a better idea of where a small business stands. For example, a business with thousands of Facebook followers has a ready au…

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