Small businesses do not have the resources to track complex but critical financial data, which leads to a prolonged and laborious lending process. Additionally, cash flow timelines are also shorter and the need for cash is more urgent. That’s where ForwardAI comes in.

ForwardAI is a simple, single, lender-first API that delivers a robust accounting and financial data suite for small business lending.   Through their API, they provide 3 main value propositions:

  1. Accounting data integration: Single API provides easy & instant access to real-time accounting and financial data of your business clients. We support more than 15 accounting systems and extracted data is normalized for ease of use in the lending process.
  2. Historical and forward-looking data: Lenders get access to 3 years of historical data (variances, trends, KPIs etc.) based on 160+ data points. Their innovative technology further predicts 100+ data points including cash flow, income, expenses, and more to better predict a small business’s future financial viability.
  3. Validation of accounting with banking data: ForwardAI cross-references business data with banking data to speed up business lending decisions. Cross-validation is done by smart mapping transactions in both the accounting system and multiple bank accounts that a business may be using to bring better transparency and trust.

Lenders use ForwardAI Precise API to create custom integrations with their existing software or use ForwardAI Access as a streamlined white-label lender portal for viewing small business data for innovative loan offerings.