Though many banks are focused on creating a virtual presence in the e-commerce marketplace with their Internet banking sites, there is also a growing number of often ignored Internet resources that bankers involved in commercial lending can utilize in their daily routine. A wealth of data that can speed up and enhance the loan approval and monitoring process for small- and mid-sized businesses is now easily accessible. Moreover, as Internet resources become more sophisticated, information management tools are being linked to online databases in order to provide the foundations for knowledge-based decision systems. These knowledge-based decision systems are virtual information systems that allow a user to simultaneously search multiple databases through only one Web site. That site uses technology to access databases of multiple companies or sites -- allied but unrelated -- without regard to structure or platform and without affecting the data in any way. Keyword-based queries matched with pre-established criteria then make it possible to fully automate the decision, in this case, the credit approval.

The Need for Information Skills
Information is the raw material that drives credit decisions. However, the vast amount of data available via the Internet -- which often cannot be found anywhere else -- can also be a formidable obstacle if your information management skills are below par. If you cannot find what you need quickly, you end up wasting valuable time. The idea is to search the web, not surf it. That requires knowing how to construct effective search parameters as well as an understanding of the unique capabilities of the different search engines (a concise tutorial on searching the Internet can be found at www.microsoft.com/insider/internet/articles/search.htm).

In addition, the validity of information retrieved from the Internet must be assessed. Traditional news sources verify and filter information for their readers. That is very often not the case with information gleaned from the Internet, making it necessary to pay closer attention to the sources of information and its veracity. For example, with the exploding Small Office Home Office (SOHO) market, there is often much more information published on the company Web site than in a credit bureau report. However, a company Web site is often nothing more than a marketing tool that shows only the company’s best side. Internet discussion groups can also provide insight into companies but these, too, come with their own biases and misleading claims. Even so, there is a plus side to all of this in that the information is not being filtered. With the Internet, you can get a hold of the entire company press release instead of just reading the synopsis printed in your daily paper.

Embellishing Your Credit Files
Traditionally, a completed credit file might contain an application, financial statements, references and a credit bureau report. Often that is more than enough, but there are times when it may be necessary to get a little more background or otherwise answer some specific questions. In such circumstances, the ability to effectively search the Internet can be a valuable asset. Press releases, wire service reports and other sources of information that don’t typically find their way into the publications you read can be located easily on the Internet, providing you with a much more complete and detailed picture of your accounts. Moreover, the Internet is a good source of industry information that can aid in the evaluation of business accounts. There is also a wealth of public record information available via the Internet that may be more up-to-date than a credit report.

Credit bureau reports, after all, are essentially snapshots that may not give much of a feel for a business’s trends. For this reason, credit agencies provide update services that highlight significant changes. Even so, there is often a time lag between the event and the advisory. Using the Internet, it is possible to monitor information sources and get breaking news or learn about other events regarding your business accounts well before it is published by the credit agencies.

The following list of online resources will help you use the Internet more productively when searching for credit information.

Website	Description	Benefits
www.companiesonline.com	Access to data on 400,000 businesses	If they have a website, you probably can find them here
www.my.creditriskmonitor.com	Credit reports are created “on the fly” for over 10,000 companies using up-to-the-minute data from a wide variety of sources	E-mail alerts for your key  accounts      One fee, unlimited usage       Good portal sight for access into the commercial credit community
www.creditworthy.com	Commercial credit community site with links to most other credit related Internet sites	Good entry point for tracking down commercial credit product and service providers and other credit resources
www.deja.com/usenet/	Largest archive of Internet discussion groups	Track what consumers and others are saying about your accounts
www.ecredit.com	Provider of software and Internet based credit decisioning tools	Seamless automated integration of the entire credit approval process       Users can select different templates and set underwriting standards
www.freeedgar.com www.gsionline.com www.spreadgar.com	Access to the SEC’s EDGAR database	Free Edgar is free - includes watchlist       Live-Edgar is up-to-date       Spredgar allows you to download financial statements into spreadsheets
www.fairisaac.com	Designer of credit scoring models	www.creditfyi.com small business credit reports       comprehensive scoring solutions
www.intellisearchnow.com	Access to over 1600 information sources that include national and local business publications	Monitoring service provides e-mail alerts on for a $29.95 monthly fee       Individual searches are free
www.knowx.com	Comprehensive public record information at low prices - UCC filings, liens, sales and use tax permits, licenses, asset listings, DBA records, lawsuits, judgements, etc.	Single access point for all public record information       Data is often more timely than that provided in credit bureau reports       Pay as you go ( some items are free)
www.nib.com	Single source for commercial and consumer credit reports from Dun & Bradstreet, Experian, Equifax, and Trans Union	Single access point for all credit bureau information       No need for multiple contracts on this pay as you go service
www.powerize.com	Accumulates business information from 10,000+ sources including newspapers, trade journals, press releases, magazines, and news wires	Much of the content is free       Those items that require a small download fee include a free summary       Easily searchable database

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