Shawn Porat
๐ค SpeakerAppearances Over Time
Podcast Appearances
The problem is they never really tapped into small business as well.
Um, Donna Berkshire does an awesome job at public companies and, uh, large private companies.
But when you get down to the small business level.
you know, they just don't have that great information.
I'll give an example.
Uh, one of my previous companies been around for seven years, uh, uh, recovery of judgment.
It's a judgment asset investigation company.
And, uh, for that company, we checked our credit report and it said that our credit score was like 25 out of a hundred.
Uh, yeah, I'm done.
It had, uh,
It had our address from six years ago.
It said that we spend $50 a month on expenses.
Meanwhile, we're spending about $25,000 a month on expenses.
It was just completely inaccurate.
And it sucks because, you know, there's a lot of small businesses out there that rely on their business credit to get funding.
And because there's no good business credit report out there, they're stuck.
Their focus has predominantly been for like, you know, their financial customers and the small business industry.
They've been trying for a while to tap into, but it's never really worked well.
One of their companies, I believe produces about a hundred million dollars a year in revenue by charging between 2000 and $10,000 a year to small businesses to build their credit report.
So I believe that's a fundamental issue there.