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According to The Wall Street Journal, some lenders, mostly dealing in small-business loans, are combing through applicants’ social media accounts and status updates, tweets, and posted resumes. Considering how long social networking activity stays online, it’s a good idea to prepare now before a forgotten check-in tanks your approval chances.
Setting your account to “friends only” isn’t enough to keep unwanted lenders (or anyone else) from seeing some of your social networking activity. If you want to discuss your job on social media, keep things positive and don’t brag about skipping out of work—even if a lender never sees it, your boss might. If you’re self-employed or own a small business, social networking could bolster your loan application, especially if you have good reviews and high ratings.
Update your business accounts on social networks, reach out to customers and encourage reviews across several sites to build a good reputation.
I have found that a frequency of about once per month will suffice for social media uploads and updates at most practices.

Get the entire process documented and put into your Operations Manual – this way if your social media person leaves, the process is recorded and another staff may be trained.
Never mind that the use of social media to enhance your marketing can deliver tangible benefits to your target market and your bottom line.
The good news is that there’s a way to have a realistic social media marketing budget that covers your expenses and passes your firm’s approval process even if your boss believes that social media should be free.
Social media marketing helps build relationships directly with prospects and customers who no longer trust advertising, supports the purchase process at every step where additional information is needed to persuade consumers, and enhances search optimization to improve results while decreasing search costs.
Lenders like to see that you’re a trusted, established and well-liked person, so go forth and build your social network.
They kept me totally involved and informed, guided me through potential obstacles of our medical room renovation, and managed my anxiety! Putting together a realistic social media marketing budget if your boss is one of these managers who thinks that social media should be free can be a significant challenge.

The reality is that while marketing expenses may be low in the early phases of social media adoption, once you expand your social media efforts, these expenses will have an impact on your marketing budget and resources. Understand that being open and transparent in business is important, especially where social media’s involved.
But the problem is that getting your budget to align with your firm’s approval process may sometimes require some translation services.

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