Helping SBA lenders meet compliance and grow their customers business!
Compliance Made Easy
With the release of the Debt Collection Improvement Act of 1996, SBA lenders are required to report information to the appropriate credit reporting agencies whenever they extend credit via an SBA loan.
This requirement, which is a result of defaults where the applicant would go to another SBA lender and obtain a new SBA loan since they were not being reported to the business bureaus, is covered in the SBA's SOP 50 57, and clarified in their Information Notice.
We make this easy by reporting your SBA loans to each of the major business credit bureaus for you!
Reporting of your SBA loans, while required, is also great synergy for you and your customer!
- Adds a financial trade line to their business credit report, which will help them get open accounts with key vendors
- Will help your customer obtain preferred lower insurance, utility, communication, and lease rates
- Improve your small business customer's business credit score
- Helps your customer grow, which will provide more revenue for your bank
Ready to meet compliance while helping your customers grow?
Ready to Get Started?
Contact us for more information