Why FICO Scores Aren’t Enough For Small Business Lending

While there’s a growing demand for technology within almost every business sector, many fintech companies have been under more strain than ever since the Covid-19 pandemic caused economic uncertainty across the world. More people than ever spent 2020 looking for financial support, and many of them were owners of small businesses who found themselves having to lay themselves bare to potential lenders. Until recently, the FICO score was considered the holy grail of someone’s creditworthiness.

It’s historically been the first metric that lenders consider. But post-pandemic, in a world where so many things have changed, is this still the case?

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