Did you know that lenders could be looking at your digital footprint in order to determine if you’re more likely to default when it comes to providing loans? It’s no secret that your affordability, credit score and security are the three main factors taken into account when you’re being assessed for a loan – but now, according to recent studies from Tobias Berg at the Frankfurt School of Finance & Management, amongst other sources, suggest that your digital footprint could be used by lenders to determine your risk of defaulting.
This obviously can greatly affect how likely you are to receive a loan and at what cost. Choice Business Loans put together the below infographic to detail what lenders could be looking for when determining if you’ll be likely to default…
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