Many new businesses are seen as a risky proposition, particularly where they lack trading history or assets they can leverage against. We offer Personal Loans for business purposes. However, we have found that underwriting new customers using the traditional methods, such as reviewing credit reports, meant that we were not necessarily able to offer finance to as many businesses as we would have liked. The Logical Glue platform allows us to build up a far more holistic credit profile, based on a much wider range of factors. We can now better manage our risk while doing what we set out to achieve – provide more loans to Britain’s small businesses.
Alex Daly, CFO at SULCo