Lending software manage lending tasks including origination, underwriting, closing and documentation. We help to power their capability and deliver the best service to their clients. Small businesses can quickly and accurately share their accounting data through an API leading to faster, fairer and more accurate lending decisions.
Asset based financing refers to the use of a company's balance sheet assets, including short-term investments, inventory, and accounts receivable, to borrow money or get a loan. The company borrowing the funds must provide the lender with a security interest in the assets. Lenders can stop spending weeks, even months, to manually receive and manage financial data from Small Business customers. By accessing up-to-date, accurate data on small business customers, lenders can get a true picture of their assets before making a lending decision as well as monitoring default risk moving forward.
This type of finance uses invoices as a way for businesses to unlock cash tied up in invoices and therefore speeding up cash flow. Manual data collection increases the risk of data omissions, errors and loss. Manual Data is opened for misrepresentation and potentially even fraud. By accessing up-to-date, accurate contributed data on small business customers, lenders can get a true picture of their customers' financial health but also the behavior of that businesses customer's and therefore the risk.
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