Business Owners Can Learn To Love Actuaries — While Still Hating Credit Scores 09/12/2012
I am, of course, talking about how tens of thousands of small business owners with long and successful track records are going out of business because they cannot get a simple business loan from their neighborhood banker.
I’m not saying we should get rid of the actuaries and all their credit scoring tools. But we do have to recognize that credit scores are just that: tools. They were always meant to be just a part of the way banks lent — and recovered — their money.