Credit reporting agency API: Commercial Credit Checker
Commercial Credit Checker is a Salesforce-native application that automates the business workflow by pulling business credit reports from major credit bureaus, including Equifax, Experian, PayNet, and DataMerch. It is a product of Cloud Maven, Inc.; a Salesforce certified ISV partner and the proud recipient of the 2021 Salesforce Partner Innovation Award. The first thing lenders look for when reviewing a commercial credit report is whether or not the business owner has filed for bankruptcy. The vast majority of businesses seek a working capital loan. Working capital loans are used by businesses to meet their daily needs as well as for various business expansion services. These are typically short-term loans with repayment terms of up to a year. This credit reporting solution can help you avoid financing risky businesses by providing DataMerch reports. These reports are designed to help funders determine whether a prospective client has a bad record in the alternative loan industry. The application helps you obtain detailed business credit information, which allows you to make an informed and precise lending decision. Using any Salesforce standard or custom object, lenders can obtain instant business credit reports from Experian, Equifax, and PayNet. Banks can assess a company’s creditworthiness in real-time without leaving Salesforce’s secure environment. It combines critical risk information, such as bankruptcy, payment patterns, collection information, legal filings, and fraud, into a single report to provide an accurate picture of the risk your company would assume with any borrower. This can protect your business from bad debt and unpaid invoices. This credit reporting tool requires only the company name to retrieve all of its credit information from any Salesforce object. The software is available on Salesforce AppExchange for a free 30-day trial. Send an email to info@cloudmaveninc.com for any queries. Follow Cloud Maven, Inc. on LinkedIn, Twitter, and YouTube to learn about further solutions.
