PayNet, An Equifax Company, Launches SME Lending Solution to Speed Loans Under CARES Act
Equifax, Inc. (EFX)
Last equifax, inc. earnings: 4/20 05:24 pm
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Source: PR Newswire
SKOKIE, Ill., April 22, 2020 /PRNewswire/ -- PayNet, an Equifax company that provides credit and analytics on small and medium enterprises (SMEs), today launched the PayNet P3 Data Pack. The new platform provides critical integration, automation, and verification technology to help lenders expedite Paycheck Protection Program loans to small businesses. "Technology is the key to getting much needed capital to Main Street," said William Phelan, senior vice president and General Manager at PayNet. "By automating Paycheck Protection Program loan application data, lenders can significantly reduce friction and time to fund these loans. Our database has credit data and records on more than 30 million small businesses, easing the identification and decision-making process for making these loans quickly and confidently." The PayNet P3 Data Pack integrates into lenders' existing loan origination systems or direct to SBA-approved institutions. The platform also connects to SME accounting platfo
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