WHAT IT IS:
A two-tier product for providing both equipment financing and credit history data on a commercial applicant.
WHAT IT DOES:
PayNet is a rich source of data on equipment financing and business credit history. The product can be used in two steps.
Step one: PayNet Company Search returns a list of matching businesses.
Step two: PayNet Payment History Report – delivers the payment history on a selected company compiled from a comprehensive database of borrower operating information, lender payback details and delinquency history as well as lien and judgment summaries.
WHAT IT IS USED FOR:
Used by small business lenders during the commercial loan origination process to better understand a commercial applicant’s credit history and risk profile.
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