CHICAGO–(BUSINESS WIRE)–PayNet, the leading provider of small business credit data and analysis, announced that Thrive has joined its lineup of business partners. Thrive is a cloud-based end-to-end platform that enables banks, credit unions and lenders to efficiently and profitably process and originate small business loans. Thrive customers now will have access to solutions from PayNet, which has the largest proprietary database of small business loans, leases and lines of credit encompassing over 24 million contracts worth over $1.6 trillion.
“We’re thrilled to welcome Thrive into our ecosystem of partners,” said PayNet Director of Business Development Kevin Wenta. “PayNet’s partnership program allows lenders to create a composite score that includes PayNet data for credit decisions on commercial loans. Thrive customers will benefit from PayNet solutions as they process and originate loans.”
PayNet’s business partners enable lenders to streamline the credit granting and portfolio management processes by integrating various credit/risk tools, including PayNet products and services. PayNet’s strategic partnerships enable seamless and rapid access to PayNet’s products and services from within the credit granting and portfolio management processes. More about PayNet’s growing ecosystem of business partners can be found here.
“We are excited to partner with such an established and well-regarded organization as PayNet,” said Kunal Sehgal, CEO of Thrive. “Through our end to end digital lending technology, our customers are experiencing significant decreases in loan processing times, increasing loan profitability and modern user experiences. Integrated with PayNet solutions, the Thrive digital lending platform provides trusted and reliable data for accurate financial and credit assessments, giving commercial lenders the ability to make consistent and informed loan decisions – all in a shorter timeframe and at a reduced cost.”