A modern all-in-one income verification solution that enables the most comprehensive sole proprietor borrowers to have permission access to their IRS tax records
Three out of every ten of your borrowers drop off during the document collection process. It is a pain for your borrower and a time-intensive process for your internal team to gather documents and then organize the documents and make the proper calculations to approve loans and lines of credit. Your small business owners often do not have access to all the documents you need to make loan approvals fast enough. Your SBA and term loan products drive your business so why is the process so slow? Do you not want to make approvals faster and get borrowers approved?
Instant access to tax data can make your product more seamless for your customers and automate the back-office team's tasks of verifying documents and running calculations. With getting consumers’ permission to access tax records you no longer need to have your sales managers gather documents and manually run calculations by your funding manager.
With accurate and verified income information from the IRS, you can be confident about creditworthiness and borrowers maximize their loan offers.
Faster approval timelines mean happier borrowers and more closed loans. Cut down on seven-day and sometimes two-week wait times with waiting on IRS and third-party vendors and get secure data instantly with the consumer’s permission.
Approve loans confidently for borrowers and increase approval rates up to 30%.
Cut down on time spent waiting on documents by directly tapping into your client’s verified IRS records. Your sales reps and funding managers will love you more.
Cut down on time spent waiting on documents by directly tapping into your client’s verified tax data.
Stop losing leads to a slow outdated process of manually verifying documents and running calculations.
Embed tax verifications into your native applications to get the data earlier in the process to help with your drop-off rates.
Increase conversion instantly with direct access to your sole proprietor's tax and income data directly from the IRS.
Remove friction from your borrowers with a more transparent and faster approval process.
We have increased our conversion rate of new applications by 25% within a few weeks of using ModernTax to allow borrowers to share their tax records with our underwriting teams within the application.
