News & Updates

Why Timing Matters: The Case for Early Transcript Retrieval in Lending In lending, every detail matters, and timing often determines whether a deal closes smoothly or falls apart. One critical component that frequently gets overlooked is the borrower’s tax transcript. While lenders universally recognize its importance, the timing of when they request this document varies widely. Some lenders wait until late in the underwriting process,

2022 IRS Tax Filings Data This fall, IRS Tax Data was published based on tax filings from 2022. The IRS’s annual corporate tax statistics provide a comprehensive look at the financial health of U.S. corporations. For lenders and CPAs, this data is a benchmark for understanding profitability, tax behavior, and industry trends. These insights include information on: Corporate Health— Metrics revealing how businesses are performing

Government Shutdown Stalls Lending, But TOD Keeps Lenders Moving Forward As the longest federal government shutdown in history continues, its ripple effects are being felt across the lending space, particularly in SBA loan processing. With agencies like the SBA operating at limited capacity or completely paused, SBA loan approval has come to a full stop until the government reopens. The SBA estimates that 320 small

The Cost of Transcript Access The SBA lending arena is highly competitive. Regulations change frequently, borrowers are eager to receive funding quickly, and oversight can cost you money and your reputation. For NEWITY, a leading Lender Service Provider (LSP), the challenge wasn’t just originating loans, but continuing to increase their capacity and efficiency while maintaining quality and compliance. One of their biggest hindrances? IRS tax

The Cost of Transcript Access Many lenders often overlook one major price tag in their process that costs them or their clients thousands of dollars. Obtaining tax transcripts from the IRS is mandatory for many SBA loans, and it needs to be done for every single owner with more than 20% stake in the business and all affiliate entities. Traditionally, lenders need to fill out

Elevating the Lender’s Approach to Compliance Since 2020, SBA lenders have experienced a quickly shifting lending environment. From the rapid rollout of PPP and EIDL programs in response to COVID-19, to an increase in instances of fraud with often limited lender guidance. The current era of SBA lending might be characterized as one where lenders are seeing increased demand for capital, fraudulence is down due

Managing Commercial Loan Portfolios For Lenders As portfolios grow in size and complexity, so do the challenges that come with them. Lenders are tasked with tracking hundreds, sometimes thousands of borrowers, each with unique financial profiles, repayment schedules, and risk factors. Term loans, lines of credit, equipment financing, and more– the sheer volume of data can quickly overwhelm even the most experienced teams, especially when

Collecting Client Financial Data When accessing your clients’ financial records, transparency and accuracy are everything. Whether you’re reviewing documents for a loan application or advising your client on their tax liabilities and deductibles, incorrect or outdated information will skew your metrics and degrade your ability to make an informed decision. Many lenders and CPAs have historically relied on tax returns to inform them on their

Elevating the CPA’s approach to tax planning From tax strategy to cash flow management, as a CPA you are entrusted with a high level of responsibility. You’re expected to be accurate, fast, and always a step ahead. Beyond retrieving and organizing financial documents for new clients, advising business leaders on a tailored tax strategy requires time, energy, and accuracy. In order to provide a client

Borrower Risk Monitoring with Ongoing Tax Transcript Access In lending, risk doesn’t end once funding has been provided. Risk and its mitigation are ever evolving, and if you’re not watching closely, this could have severe effects on your reputation, financial stability, and profitability . Let’s review a potential scenario that you might encounter. You’re a lender who just closed a $250,000 loan to Joe’s Fresh