Yes, the lender will have ongoing access to your data in Xero once you provide your consent during the application, with the exception of NAB who will only have 30 minutes access. Ongoing access to your Xero organisation allows the lender, for example, to see that the business remains creditworthy. Some lenders will require ongoing access to your data during the term of the loan facility, so we suggest that you check this with the lender before removing their access.
You can remove the lender’s access to your data from Xero: just go to Settings > General settings > Connected apps