Larry Cheng writes about a new web service called Cortera that lets businesses rate how other businesses do (and don't) pay their bills.
Cheng believes that this puts business credit ratings back in the hands of small businesses in a few ways. Number one on his list:
Firstly, it enables the voice of the small business to be heard in the business credit world. Traditionally, commercial credit ratings are driven by payment data contributed from a few thousand large companies. While Cortera has included that data as well, there are tens of millions of smaller companies whose payment experiences have been left out until now. On Cortera, the payment rating of a small business matters just as much as the payment rating of a large company. Any business can go online at Cortera, right now, and enter a payment experience they are having with one of their customers. The playing field has been leveled.
I would encourage you to read Larry Cheng's article.
