PayNet Adds Legal Name Search Capabilities to Provide a One-Stop Solution to Accessing Credit Information Through Its Credit History Report, (CHR).

            Skokie, Il. February, 2008: PayNet announces additional benefits to simplify and streamline the credit decisioning process by providing Legal Name identification from Secretaries of State offices in the U.S.

            Beginning with partial state coverage, PayNet will add additional states in phases to achieve full nationwide capability.

            PayNet’s Credit History Report, (CHR) will give lenders a comprehensive view of applicants needed to make the critical credit decisions, all in one report. They will no longer need to incur the time or cost to gather data from multiple sources. In addition to Legal Name verification, they will have access to all important comparable Term Debt Payment History plus UCC Filings as well as Bankruptcies, Liens and Judgments matched into one credit view of a borrower/applicant.

            For more information on how this benefit can lower costs and improve efficiency of the application and booking process, please contact:

Tom McGrath
Vice President, Sales
Phone 847-745-6092
tmcgrath@paynetonline.com
www.paynetonline.com

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Founded in 1999, PayNet, Inc. is the industry’s largest repository of historical lease and loan payment information on the U.S. small-business community.  PayNet’s information is utilized on behalf of participating institutions to increase revenues, control risk and lower operating costs.  Its data covers more than $400 billion in loans on privately-held small businesses.