After decades of struggling with an opaque credit rating industry that makes borrowing unnecessarily slow and expensive, small and medium enterprises (SMEs) can now take control with Tillful, a platform that offers free, fast, and transparent credit scores and provides convenient access to the best possible credit offers.
Launched by Flowcast, a leading provider of AI credit risk models, Tillful leverages the company’s proprietary, patent-pending machine learning solution that has been trained and validated with real-world data in partnership with some of the world’s most innovative financial institutions. The result is a completely new credit scoring that is fast and fair.
“In today’s rapidly changing environment, companies need a better way to know what lenders are looking for, monitor their financial health, and get the credit they need,” says Flowcast CEO Ken So. “Tillful lets small businesses grow and thrive by leveling the playing field between business owners and lenders.”
Tillful introduces the following services to SMEs:
- Free credit analysis, updated daily
- Unified dashboard of all linked business accounts providing a complete assessment of a company’s financial health
- Actionable personalized recommendations to improve a company’s credit profile
- Access to qualified financing offers based on Tillful’s free credit analysis
“Traditional business credit reporting agencies are outdated and expensive,” says Tillful user Navin Goel, the CEO of Go Safer Security. “In these challenging times, Tillful provided me with a full picture of my credit profile and helped me identify the next steps I need to take in order to qualify for financing.”
One key benefit of Tillful is that businesses no longer have to work for months to establish a credit score and build up tradeline history with traditional credit reporting agencies. Tillful also eliminates the outdated notion that inquiring for credit can reduce credit ratings, as “hard” credit inquiries still do in the conventional credit industry.
The COVID-19 pandemic has further undermined a conventional SME credit scoring process that relies on limited data and static models that don’t capture rapid shifts in the business climate. When lenders struggle to properly evaluate borrowers with these outdated tools, they tend to introduce new bureaucratic hurdles, overcharge, or even outright reject good borrowers.
“Seeing the economic impact of COVID, we’ve become more committed than ever to democratizing financial data and technology,” says So. “Our goal is to help small businesses survive and hopefully emerge from this pandemic stronger and healthier than before.”
Since April, the company rolled out a COVID-19 Funding Relief Tracker that provides up-to-date information about both public and private financial assistance programs.
The Tillful platform is protected by bank-level encryption and is available immediately to every small and midsize business in the United States.
Business owners can learn more about Tillful and get a free business credit score at https://www.tillful.com/. The service is completely free, and a simple sign-up process is available at https://app.tillful.com/onboarding/company-search.