APPRO Systems Supports Equifax Small Business Credit Report

APPRO Systems, Inc., an Equifax company and leading provider of automated credit risk management and financial technologies for the lending industry, announced today at the 10th Annual Small Business Banking Conference that LoanCenter™ Business now supports the latest version of the Equifax Small Business Credit Report™. Using LoanCenter Business v. 4.2, lenders now can evaluate and manage the financial risks of lending to small business borrowers.

LoanCenter Business v. 4.2, APPRO’s newest small business lending automation system, puts previously unavailable banking and lease payment information, trade credit history, liens and judgment information into the hands of lenders. Users gain access to the most comprehensive small business data from Equifax’s Small Business Enterprise. Through an exclusive agreement with the Small Business Financial Exchange, Small Business Enterprise culls information from the largest small business credit database in the U.S. LoanCenter Business users leveraging the Equifax Small Business Credit Report now can quickly access this information to assess credit risk and reduce fraud in small business lending operations.

“Small business lenders cannot afford to make uninformed credit decisions, making access to small business credit data critical,” said Steve Uffman, group executive, Enabling Technology Group, Equifax. “Leveraging data from the Equifax Small Business Credit Report, APPRO’s LoanCenter Business arms companies with the information they need to make the right business decisions at the right time.”

LoanCenter’s ability to achieve high levels of automated decisioning for smaller loans while streamlining the decisioning process for larger, more complex loans continues to be a key differentiator of the product line. Through LoanCenter Business, APPRO Systems provides automated decisioning capabilities based on new scores and public record information delivered via the Equifax Small Business Credit Report.

Users also gain access to a detailed report, consistent with Equifax displays, that provide a general assessment of risk and overall financial picture of a small business borrower. With a more comprehensive view of company payment performance and credit history, lenders are well positioned to implement more small business loan decisioning strategies.