New York (PRESS RELEASE – October 1, 2010) – Moody’s Corporation today announced the launch of Moody’s Small Business Information Zone, an online resource center that provides U.S. small business owners with free access to economic information and planning tools that can help them manage their business through difficult economic times.
“The small business community is an important engine of job creation and innovation in our country and is vital to our economic recovery. Yet small business owners face unique challenges in navigating these difficult economic conditions and planning for the future,” said Raymond W. McDaniel, Jr., Chairman and Chief Executive Officer of Moody’s Corporation. “For more than a hundred years, Moody’s has been a market leader in providing the tools, analysis and data that financial professionals need to have a better and more informed perspective on the markets. Moody’s Small Business Information Zone brings that experience to the small business community so they can better assess their competitive and financial environment.”
The site features small business news and economic analysis and timely articles on topics such as locating a lender, factors to consider when applying for credit, tips for completing credit applications, and alternatives that business owners can consider when a loan application is rejected. A variety of recent credit and economic data is also available, ranging from auto and retail sales data to daily foreign exchange and mortgage rates.
Also included is Moody’s SmallBiz Credit Assessment Tool, which lets businesses enter basic financial information about their company, such as revenue and expenses, to obtain a quantitative measure of the relative and comparative credit risk of their business. “These tools help give small business owners insight into how potential lenders may view their risk profile before they apply for commercial credit, so they can plan accordingly,” said Mark Zandi, Chief Economist at Moody’s Analytics.
“We applaud Moody’s for showing its support for our nation’s small and independent businesses by creating a free resource center tailored specifically for their needs,” said National Federation of Independent Business President and CEO Dan Danner. “Moody’s Small Business Information Zone brings together a wealth of information that small business owners can use directly in their business planning – I know NFIB members will find it helpful.”
“Entrepreneurs and small business owners need credible and current information on credit and broader economic factors as they build their businesses and work to create new jobs, and this is especially true today,” said Ken Yancey, CEO of SCORE. “We applaud Moody’s efforts to give small and growing businesses a convenient and free source of economic analysis so they have the information they need to make sound decisions.”
The site also provides access to detailed economic profiles by industry, as well as for geographic areas, searchable by state, metro area or zip code, to help owners of small businesses research local trends and activity when planning for expansion, hiring, or preparing a commercial credit application.
“New York City is home to nearly 200,000 small businesses that employ about 650,000 people or 21 percent of the city’s private workforce,” said Kathryn Wylde, President and CEO of the Partnership for New York City. “Moody’s Small Business Information Zone will help give small and emerging businesses greater access to financing, and help drive economic growth across the country.”
ABOUT MOODY’S CORPORATION
Moody’s is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s Corporation (MCO 25.13, -0.02, -0.08%) is the parent company of Moody’s Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody’s Analytics, which encompasses the growing array of Moody’s non-ratings businesses including risk management software for financial institutions, quantitative credit analysis tools, economic research and data services, data and analytical tools for the structured finance market, and training and other professional services. The Corporation, which reported revenue of $1.8 billion in 2009, employs approximately 4,100 people worldwide and maintains a presence in 26 countries.