A good business credit score can open up new doors for your company. What about good reviews? Did you know they can help your business to thrive and grow? If you’re interested in all this and also want to know how you can get a credit repair merchant account easily, just read below.
Reviews Impact Your Business Credit Score
As you know, lenders view your business credit score as an indicator of how you’ll be able to repay them in a timely manner. You can find your score at Dun & Bradstreet, Equifax, and Experian.
Each of the mentioned major business credit bureaus uses its own method to determine the creditworthiness of your company. FICO scores are the most widely used ones: the credit scores created by Fair Isaac Corporation.
Why dobusiness lenders care about customer reviews? Well, this is because reviews can help themget an idea of the risks involved with your company. Importantly, apart from customer reviews, online reviews, including those on Yelp and Google, do really influence your business credit score.
According to a recent Local Consumer Review Survey:
- 86% of consumers go through reviews on the internet to figure out whether they need to do business with the given company or not
- Consumers read 10 online reviews (on average) to determine whether the given business is trustworthy or not
- 40% of consumers rely on reviews posted within the last 2 weeks
Well, how can you know how much online reviews can impact your business credit score? It’s simple! You just need to know which credit scoring model is being used to evaluate your business. If the given lender relies on a scoring model that has nothing to do with customer reviews, the reviews won’t influence your business credit score.
Credit Repair Merchant Account &Online Reviews
Word of mouth is really powerful when it comes to attracting new customers. Online review siteswhere customers use to share their experience help others make informed decisions about businesses.
Are you giving enough time to reviews concerning your own business? What about reliable merchant services? In fact, these are factors that’re going to help you move forward your business easily. So, take online reviews seriously. Also, work with a reputable merchant services provider that offers the best business funding and payment processing solutions like a credit repair merchant account in the industry. Make sure the provider offers the latest and the most secure solutions, as well as the cheapest rates.
What’s more, you can even applya systematic approach to getting positive reviews. Yes, that’s true. In fact, there’re lots of business owners who’redevoting a ton of hours to developing and implementing an effective system for their business. So, just take the time to use the power of online reviews effectively.
To sum up, as a business owner, you need to know that online business reviews can really make or break your business. Customer reviews can tremendously impact people’s decisions while they’re researching products and services. Finally, online reviews can also impact your rankings.
Author Bio:As the FAM account executive, Michael Hollis has funded millions by using credit repair merchant account solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.
