The Underwriting Process
eyfy has an important responsibility to protect our users and the businesses we serve. To do this, we must have a thorough understanding of each business we finance, their financial situation, and the potential credit risk of the business. We do this through a process called credit underwriting.
How is this process carried out?
To perform this analysis, we gather insights from three key data sources; Banking, Accounting, and Billing accounts, which you can connect to directly through our secure connection portal.
What can you expect during this process?
During the underwriting process, you can expect a review of your business model, billing practices, product usage, financial history and stability, among other things. We’ll request for your updated financial information, customer agreements, as well have questions about your recent history with other lenders, if applicable.
How is risk assessed?
Generally, we partner with businesses that have growing, predictable revenues. Companies whose revenues are less predictable pose a higher credit risk for lenders like eyfy. Given elevated levels of risk, users must demonstrate operational and financial strength to continue fulfilling their obligations.
What happens if the information requested is not available?
If you are unable to provide the requested documentation or information, let us know as soon as possible. We would be happy to discuss with you what, if any, alternative information could be provided.
Data Privacy and Security
eyfy also performs periodic reviews of your company to ensure that it is in good financial health as it grows over time. The information collected during this process is used to confirm that eyfy has an accurate, up-to-date assessment of your business.
Have more questions? Feel free to reach out to us anytime!