Alternative data gaining ground with lenders in all industries

By Jeff Kilroy | Uncategorized | 0 Comments

Defined as non-financial reporting data in credit files, alternative data is growing in power to make or break a lending deal.   Alternative lenders have used alternative data to make decisions on applicants for years. And now the trend has gained ground in lending sources for other industries, including the automotive industry.   An article in Automotive News last week cites a TransUnion survey of 317 lenders who service the automotive industry, mortgage lenders, and credit card companies who are turning towards alternative data to assess risk and pricing for customers who have weak credit, or no credit history at all.   TransUnion, one of ...Read More

What's the difference between a business plan and a business growth plan?

By Jeff Kilroy | Uncategorized | 0 Comments

There's that extra word "growth" in the headline, so naturally the difference between a standard business plan and a business growth plan is to focus on progress and development. The trouble is for small businesses, once a business plan is formally written, it often falls by the wayside in the grind of day-to-day operations. Small business owners simply become too busy to revise or revitalize the plan.   You probably think about growth all the time; it's the cornerstone of operating a successful business. Growth translates into bigger profits. But have you outlined a growth strategy?   Here are 5 ways to inject ...Read More

Bank Loan approval rates decrease in January 2016

By Jeff Kilroy | Uncategorized | 0 Comments

Overall market insecurity drives loan approval rates at large and small banks. Facing wider insecurity because of low oil prices and a turbulent stock market, numbers show a slight decline in loan approvals to small business, according to the Biz2Credit Small Business Lending Index™.   The drop in lending approval rates from small banks is slight, from 49.1% in December to 49% in January. But with continuing instability, the question of further decline looms.   Additionally, credit unions saw a similar decline, from 42.3% to 42%. Experts note the lack of technology within credit unions to expedite loan applications contributes to their drop ...Read More

The rise of emojis in marketing

By Jeff Kilroy | Uncategorized | 0 Comments

As the number of people across the planet using smartphones is expected to reach 50% by 2017, just about every marketer knows the value of mobile marketing. People are as familiar with the emoji as they are the power button on the T.V. remote. They are by now, a customary part of language; part of our vernacular.   Text speak, including emoji use, is most familiar to Generation Z, the generation loosely categorized as the one born after 2000. They've grown up in a digitally-connected world, using mobile technology from a young age, text messaging to communicate, and substituting words out ...Read More

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