How does Xero choose which lenders they partner with?
We work with lenders who share our vision of helping more small businesses get access to capital and who have the technical capability to build beautiful experiences for our joint customers. We don’t aim to work exclusively with any one lender; we’d rather give our small business customers a range of lenders and financial products to choose from, as we recognise that every business is unique with different circumstances and financing needs. All of our lending partners must complete Xero’s developer certification process and adhere to the standards required for certification.
Xero is committed to helping more small businesses get access to capital so that they have the financial means to run and grow their business. So we partner with lending institutions globally – both banks and alternative lenders – and build direct integrations which allow businesses to share their financial reports and data in Xero directly with the lender during a loan application. This gives the lender immediate access to the information they need to be able to assess the loan application and make a decision.
We understand that when you need finance, speed is critical. Prior to lending integrations being available, businesses would typically need to manually export and share documentation with lenders in order to be assessed for credit, resulting in time-consuming and sometimes inaccurate lending processes. Our lending integrations allow you to apply for finance faster, by enabling direct sharing of Xero data with the lender. Simply apply online and connect your Xero organisation in a few clicks to share your data. Our lending partners generally support a fast decision time so you may receive a response the same day, however this will depend on the lender.