LendAPI Introduces KYB Product

LendAPI’s new KYB product goes beyond the traditional Know Your Business data offerings. It goes deeper. It has business reports that contain financial information that banks and lenders might need to offer them credit.

LendAPI’s KYB product also contains income statements, balance sheets, liabilities, and other critical information to demonstrate the health of the business. Our report contains information such as headcount as well, to track the overall growth of the business from an employment perspective that others don't offer.

We will break down various revenue sources, gross profit, operating income, and net income. We will display EBITDA for the business as well in an annualized and quarterly format. In the balance sheet section of the report, we will display cash on hand, inventories, bad debts, and other types of assets such as mortgages and loans to shareholders.

Payroll and headcount are also displayed for the past 12 months so you can track headcount growth and payroll growth over time.

KYB Starts with Search

We know locating a business is important, so we provide you with the most accurate search points we can get our hands on.

You can search by company name or their stock ticker. Or you can search by website domain or office address. You can also search by LinkedIn URL. We provide you with as many search criteria as possible to locate the company you are looking for.

The beginning of all your research begins with search. You can search by API or you can search with our KYB platform by keying in search criteria into the platform. Anyone with any level of technical skill can use this platform to search for the companies they are interested in.

For instance, if you have an underwriter who’s reviewing applications from businesses that want to establish a relationship with you to begin sending their customers’ applications for credit, you might need to check out the company that you will be doing business with.

Understanding the history of the business and other factors that give you more confidence in the longevity of that business will give you a better understanding of why they want to be part of your financing network to begin funneling their clients.

We’ve heard of situations where medical financing companies are onboarding surgeons who are brand new to the business and perhaps need time to be more established before offering financing to their clients. Worse, some of these surgery centers are not even businesses, and financing applications are completely made up as well for their patients.

Having a tool at your disposal and searching for these businesses with confidence will give your underwriting team a boost in confidence when onboarding these businesses, which will act as lead sources for your financing products.

Financial Reporting at a Glance

LendAPI’s KYB tool includes financial reporting. Income statements, balance sheets, financial margins and ratios, as well as headcount reporting, are all at your fingertips.

Our reporting goes back multiple years, so you can track and trace the growth of the company you are underwriting and researching.

Best of all, the data that we retrieve from the Know Your Business tool can be used in our decision engine for you to run decisions based on the data retrieved back from our services.

Whether you are a small business lending company or a point-of-sale financing company, having a solid understanding of the businesses and merchants is a great way to assess their creditworthiness or business growth. Armed with this information, you can properly underwrite these businesses and add them to your network.

No Minimum - Cost Effective KYB Tool

LendAPI’s KYB tool is a pay-as-you-go model with no minimum charge or commitment. Please contact us or write to us at info@lendapi.com. We look forward to working with you.