Hello Alice Introduces Small Business Health Score Tool
Hello Alice logo and a small business owner

Hello Alice Introduces Small Business Health Score Tool

A FinTech that helps small business access capital is introducing a new tool. This week, Hello Alice announced the debut of the Business Health Score. Available to Hello Alice platform users, this new score is the first product to come from the Equitable Access Program, which finds the brand partnering with Global Entrepreneurship Network, as well as Wells Fargo, JPMorgan Chase, Mastercard, and the Kauffman Foundation.

Hello Alice’s Business Health Score is provided via a self-assessment questionnaire that entrepreneurs can find on the Hello Alice site. To arrive at the overall number, the assessment will look at three aspects of a business: financial and business management practices, financial performance and position, and credit history. With their scores, small business owners will be able to make more informed decisions about how to improve their finances as well as reach their business goals. This includes tools for increasing revenue, improving cashflow, and more.

According to Hello Alice, the new scores can also help the platform’s partners, such as financial institutions, better understand the needs of small businesses. In turn, this could assist them in creating educational content as well as tailoring their services and solutions. Furthermore, the site says the score could serve as another data point in a business’s risk profile alongside a traditional credit score.

Speaking to the idea behind the Business Health Score, Hello Alice’s co-founders Elizabeth Gore and Carolyn Rodz said in a statement, “Over the last two years, Americans have applied to start 10.5 million new businesses, leading to a surge in the small business economy and more entrepreneurs who need support to properly grow their businesses. We recognized data was missing from the market that would give enterprise partners and financial institutions a clearer picture of the potential that small business owners possess for massive growth and investment.” The duo added, “We are providing unparalleled visibility through the Business Health Score that will empower small business owners to make more strategic decisions and optimize their growth while giving partners and institutions the insight to best help them through personalized service and product recommendations.”

Meanwhile, Global Entrepreneurship Network founder and president Jonathan Ortmans said of partnering with Hello Alice on the project, “Entrepreneurs are well-equipped to deal with disruption and changing dynamics, but while talent is plentiful, opportunity is not. The Equitable Access Program and Business Health Score will open doors for small business owners to better manage and grow their businesses, which will lead to more strategic partnership and funding opportunities.”

It’s clear that Hello Alice has lofty goals for its new Business Health Score. Of course, while it remains to be seen if the intended implications will become reality, there is likely a benefit to small business owners going through the questionnaire to see how they’re doing. In fact, the platform recommends that businesses update their scores quarterly in order to monitor their progress. Overall, the addition of the Business Health Score could be another reason for businesses to look into what Hello Alice has to offer.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...