BizSugar.com › Social Media › Why Social Media Can Help (or Hurt) For a Small Business Loan

A source for both personal and business credit score, Nav.com, says that lenders are now taking advantage of the huge amount of social media and online data available when making lending decisions.
The company’s content manager Lydia Roth says in a post on the official Nav Blog that the practice is largely being used by credit unions, technologically advanced banks and alternative lenders that grant smaller loans, but the concept is likely to spread.
Roth also says that lenders are generally looking at Yelp reviews, social media information (Facebook, Twitter, LinkedIn, etc), website traffic and accounting reports, among other avenues to determine one’s identity and creditworthiness.