Today we're launching Liens Search, an API for lenders who need fast, accurate, quality liens data for smart decision-making. Our customers have used Liens Search to power capabilities such as incorporating liens signals into underwriting, identifying and prioritizing prospect lists, and monitoring their customer's health on an ongoing basis.
Middesk's goal is to make it easy for any business to access the products and services needed to grow and thrive. Today, it can take days for a business owner who wants to grow their business to hear back from lender about taking out a loan. That's because lenders run diligence on these businesses before making a financing decision, which includes assessing the likeliness a business will pay the lender back — and what the lender could recover if the business doesn't.
To understand the downside risk of lending to a business, lenders look at a business' active liens: a claim or legal right on assets that are used as collateral against debt. Knowing about active liens on a business provides critical information on a debtor's financial situation, as well as lenders' "place in line" for getting paid if the debtor defaults.
Historically, lenders received liens data that was either very expensive, slow and thorough or less expensive, fast, but oftentimes unreliable. And, legacy vendors provide this data through clunky interfaces, require manual review of dozens of pages in PDFs to pull critical information, and sometimes return liens data on the wrong business! For all these reasons, business owners face financing delays while lenders miss out on good deals.
Now, with Middesk Liens Search, lenders can reliably, quickly, and easily access information on active UCC liens across all states through an API to assess deals more accurately and close customers faster.
How it works
Liens Search streamlines lenders' workflows to make more accurate financing decisions in less time:
- Directly integrates into your own Loan Origination System (LOS) via API; or access data through our dashboard
- Identifies active, UCC liens and summarizes critical information instead of flooding your team with noise from lapsed or terminated liens
- Provides complete and up-to-date data on 100% of registered business in the United States, enabled by Middesk's own data infrastructure
Our new technology helps lenders automate parts of the underwriting and liens process, allowing teams to focus on helping businesses succeed rather than on executing tedious, manual tasks.
Our customers no longer rely on dated, unreliable tools and infrastructure to enable a core part of their operations. To get started with Liens Search, contact our sales team today.