Merchant Cash AdvanceIdentify existing revenue-based debt obligations, deposits and withdrawals
Lines of CreditProvide short-term lines of credit or other short-term financing based on historical revenue and expenses
Revenue Based FinancingUse Heron to automate giving working capital loans to your e-commerce or SaaS customers
Business Credit CardsUnderwrite with confidence and help customers manage expenses with merchant-locking
Embedded FinanceUnderwrite with speed with a fully automated solution without a human-in-the-loop
Traditional Term LoansProvide longer-term, secured credit products like SBA loans using our products
Products
Parse PDF Bank StatementsExtract bank transaction and bank account details from bank statements PDFs without any delays from having a human-in-the-loop
Bank Statement SummaryGet a holistic view of a company’s deposits, withdrawals, debt payments, NSF fees and more on a monthly basis
Cash Based P&LSee how a company is performing on the top and bottom line over time – with aggregate and line-item level projections
Company PredictionsSee the likelihood that a company will incur an NSF fee based on historical performance
Loan Repayment PredictionPredict the likelihood that a loan will be repaid based on historical bank transactions
Direct Plaid IntegrationConnect your customer’s bank accounts directly to Heron to get a continuous live stream of their transaction data
Developers
API TutorialSee step-by-step instructions for interacting with our API
Underwrite small businesses faster and with greater confidence
Bank data is the immutable source of truth for a business. We parse bank transaction data either from PDF bank statements or via aggregators like Plaid. Leveraging our proprietary ML models, we extract key information from the transactions and categorize them into your desired output helping you to underwrite small businesses.
What we do
Data extraction
We extract key details from transaction data including descriptions, amounts, timestamps and other relevant information needed to help you make a lending decision
What we do
Seamless data uploads
We can parse 90% of PDF bank statements with 99% accuracy, or link directly to your customer’s bank accounts with open banking aggregators
What we do
Transaction enrichment
We annotate transactions with merchant logos that we extract from the transactions and we categorize each transaction with a P&L line item category
What we do
Financial analysis
We develop a complete picture of a company’s financial performance based on their transaction data, including their debt position, profitability, and affordability
What we do
Scale your output
Analyze more lending opportunities, faster with our dashboard. Zoom in on the companies within your portfolio and filter out the rejections
What we do
Portfolio Monitoring
Clearly monitor the performance of your loans over time. See which companies are growing and see which companies are shrinking and are at risk of defaulting
Who we help
Use Cases
We work with all types of small business lenders. We enhance and summarize bank data for loan applicants to improve credit decisioning, revenue, and underwriting speed
Merchant Cash Advance
We help MCAs identify existing revenue-based debt obligations, deposits, and withdrawals
Lines of Credit
We work with short term lenders including providers of business credit cards and revolving lines of credit
Revenue Based Financing
We help revenue-based financiers provide non-dilutive working capital to e-commerce or SaaS businesses
Business Credit Cards
We help new-age business credit cards underwrite as well as provide merchant locking services to help their customers manage their business expenses
Embedded Finance
We help embedded finance providers underwrite instantly using our fully automated process without a human-in-the-loop
Traditional Lenders
We also work with traditional providers of long-term, secured credit products such as SBA loans
How we help
Application to decision in minutes
Parse PDF bank statements
We can automatically parse 90% of PDF bank statements with 99% accuracy, without any delays from having a human-in-the-loop
“Heron is best-in-class at making sense of bank data. Building the tech ourselves instead of partnering with Heron would have been like hosting our own servers rather than using a Cloud provider. As soon as we tested the product, we knew it was a no brainer.”
Satwik SeshasaiChief Technology Officer, ClearCo
“Working with Heron has been a hugely successful partnership for us at Torpago. We’ve been able to process applications more efficiently, reducing underwriting turnaround time by 96%, and improved our cash coverage ratio for customers by up to 10x.”
Brendan CoonsDirector of Risk, Torpago
“Processing new applications is so much faster now, meaning that we are not only able to offer a much better customer experience with quick decisions, but also enable us to simplify the underwriting process and approve more applications.”
Brad ShawHead of Risk & Business Intelligence, Outfund
“I could go as far as saying that we almost wouldn’t be able to properly underwrite without Heron, or at the very least not do it in an effective manner. We would need to build a transactions tagging and aggregator tool, which would take us months and require us to hire data scientists, credit experts and developers.”
Matteo MajnoniProduct Manager, Juni
“Heron is best-in-class at making sense of bank data. Building the tech ourselves instead of partnering with Heron would have been like hosting our own servers rather than using a Cloud provider. As soon as we tested the product, we knew it was a no brainer.”
Satwik SeshasaiChief Technology Officer, ClearCo
“Working with Heron has been a hugely successful partnership for us at Torpago. We’ve been able to process applications more efficiently, reducing underwriting turnaround time by 96%, and improved our cash coverage ratio for customers by up to 10x.”
Brendan CoonsDirector of Risk, Torpago
“Processing new applications is so much faster now, meaning that we are not only able to offer a much better customer experience with quick decisions, but also enable us to simplify the underwriting process and approve more applications.”
Brad ShawHead of Risk & Business Intelligence, Outfund
“I could go as far as saying that we almost wouldn’t be able to properly underwrite without Heron, or at the very least not do it in an effective manner. We would need to build a transactions tagging and aggregator tool, which would take us months and require us to hire data scientists, credit experts and developers.”
Use our output to make critical decisions and power features. We built all the tools to give you access to, control over and trust in the data.
Secure API
SOC 2 Type 2 certified. Data is encrypted in-transit and at-rest and we follow strict security processes
State-of-the-art ML
Our highly skilled ML Team builds and trains cutting-edge and custom-built models
Guaranteed Uptime
We provide uptime and performance-based SLAs to ensure we provide what we promise
Automated Feedback
We re-train our models frequently to guarantee we provide an always-improving service
Easy Integration
We maintain clear API Docs and provide sample SDKs for integration
Personalized Support
Our dedicated account managers are highly responsive and provide direct customer support via Slack or Email
Interested in learning more?
Book a call today to trial our product and see how we can improve your underwriting speed, increase your lending amounts, and improve your loan outcomes
