How the Approvity platform and our partnerships work

Working together to simplify business funding

The Approvity platform makes funding advisory effortless.

With our guidance, accountants and advisors can seamlessly introduce funding to clients, helping them access the finance they need to grow. And, with an enhanced service portfolio, you can fuel your own growth.

Simultaneously providing our lending partners with an optimised channel of pre-qualified business applications that meet their core criteria.

How Approvity works

Customer pain points

On average a business will apply for finance only 7 days before they need it. Even the fastest lenders in the market will take 1 to 2 days to inform a client of a decline, and some lenders have turnaround times which can stretch to many weeks.

For the typical user-case of a business looking to achieve funding within a week, each application to a lender unlikely to accept prolongs the customer journey, often exacerbating the need for funding and eating into time they could be using to explore options with funders more likely to lend.

A company looking for a business loan will normally make application to a single lender. Should that application prove unsuccessful, they will typically give up, or try again with one or two additional lenders.

Few businesses will persist beyond this point, most abandoning the process under the assumption that other lenders will have similar criteria, and that it's unlikely they will be able to source the funding they seek. But in many cases, there are other lenders in the market who could have funded them.

How Approvity can help

How Approvity can help

We are called Approvity for a reason. Our platform assesses a business’s position and calculates the most effective path to their funding goal. Our aim is to pre-qualify each applying business, and only present it to lenders with a strong likeliness of approving them.

At the heart of the platform is a source-agnostic data repository capable of combining characteristics from numerous data sources to allow us to assess a company’s chance of approval with a wide number of lenders.

For a customer, or an advisor acting on a customer’s behalf, this flow increases the chances of them being approved for business finance, whilst reducing the legwork required to identify and apply to suitable lenders and streamlining the overall path to funding.

Doing more for you customers

By interrogating and analysing over 200 data points on every application, Approvity can not only greatly increase a client’s chance of reaching their funding goals, but also help customers in other ways.

Most introducers and lenders have no viable alternatives for clients with adverse credit and simply discard applications which fail to meet their minimum criteria. Likewise, many are unable to assist businesses due to eligibility stipulations in their lending criteria.

Approvity look to assist customers across the entire client spectrum. Using the same rich dataset that helps guide business finance applications to the most appropriate lenders, we can also help identify and provide ancillary services which could help a business overcome short-term hurdles or reduce its running costs in the longer term.

Ancillary business services can not only be offered to customers eligible for funding, but also to customers unable to find suitable offers from lenders. In some cases, ancillary services can provide cost savings large enough to reduce a company’s need for funding or help to restructure or reposition a struggling company to give it the best possible chance of ongoing success.

The platform’s underlying algorithms not only allow for the identification of appropriate lenders, but also for business services which could be undercut or switched.

Working with lenders

Approvity works closely with lenders right across the business finance landscape and maintaining close friendships with these lenders is a central ethos.

Most introducers and lenders have no viable alternatives for clients with adverse credit and simply discard applications which fail to meet their minimum criteria. Likewise, many are unable to assist businesses due to eligibility stipulations in their lending criteria.