Cortera wants to create more visibility about the credit worthiness of small businesses with the Cortera Credit Exchange, which it’s launching at this week’s DEMOfall 09, the emerging technology conference co-produced by VentureBeat. The site takes a “community” approach to credit reporting, by showing both traditional credit data as well as reviews from community members (namely, other businesses and lenders) about how well each company pays its bills.
During its demo, Cortera mentioned that it had been described as the most boring company at DEMO. The presenters said they didn’t necessarily disagree, but they said, “We might be one of the companies that makes the biggest impact on the business world.” Cortera is significant because payments between small companies are crucial to their businesses, so it’s important to track them, and identify untrustworthy partners. And traditional credit reports represent deals from less than 1 percent of businesses in the US, Cortera says.
The company says its site already has more than 1 million peer reviews.