Growth creates a unique problem for factoring and secured lending teams. The more deals you see, the less time your best people spend actually evaluating them, because someone usually has to hand-key the bank statements first.
NN6, the software platform we built for exactly this problem, recently launched First Glance Underwrite at the IFA Transportation Factoring Meeting in Las Vegas. This new product joins First Glance Invoice and the NN6 Lending Platform to complete the suite. It does the assembly work so your underwriters can spend their time making actual decisions.
A good tool won’t tell you whether to fund a deal, but it will make sure you’ve seen everything in the file before you answer. Let’s get into the product, the proof, and the reasoning behind both.
Memes
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From Inbox to Answer
First Glance Underwrite runs entirely on email. A team forwards the prospect package to a secure address and gets a standardized credit summary back within minutes.
The first job is assembly. Client profiles, AR ledgers, credit bureau metrics, and financial spreads all arrive as separate documents in separate formats, and the report consolidates them into one place so an underwriter opens a single file instead of twelve.
The second job is the audit. The system goes looking for what tends to hide in dense paperwork, including undisclosed MCA daily debit stacking, federal and state tax liens, unsatisfied court judgments, and returned deposit items. These are the findings that rarely appear on an application, but often decide whether a deal is worth doing.
From there it runs the math, calculating conservative and aggressive credit limits for each debtor, flagging past-due AR that falls outside eligibility, and tracking trends like DSO movement and current-ratio shifts across periods.
All of this happens inside the inbox your team already uses, alongside whatever factoring management system you already have.
Hiding in Plain Paperwork
In one sample review, a trucking brokerage requested a $100,000 factoring line: three years in business, roughly $3 million in reported revenue, and a clean UCC position on its own receivables. Nothing in the application suggested anything other than an ordinary deal.
The report found otherwise. The client’s largest debtor, holding 26.62% of the AR ledger, carried 12 active federal IRS tax liens totaling $1.13 million, along with two unsatisfied court judgments worth $207,000.
Under Section 6323, federal tax liens can attach to contractor receivables ahead of a commercial assignment, putting payment on those invoices at genuine risk of diversion.
The client’s own accounts told their own story. Two alternative funders were pulling aggressive daily debits, six months of bank statements showed four overdraft and returned-item events, and a $28,875 returned deposit had pushed the operating account negative. Profitability reversed from $184,000 in net income the prior year to a $43,000 deficit year to date, while current liabilities climbed from $32,000 to $221,000.
Every one of those findings was sitting in documents the client had already submitted. None of them appeared on the application, and surfacing them took minutes.
A separate sample review caught a different kind of problem. A newly-formed utility contractor, organized weeks earlier with no operating history, listed five customers on its application. Four were legitimate regional utilities with strong credit, including one investment-grade holding company. The fifth was an affiliate under 100% common ownership with the applicant, carrying 37 UCC filings and a payment record running 99 days beyond terms.
Invoices billed between commonly controlled entities are ineligible for factoring, and catching that before a term sheet goes out saves everyone an uncomfortable conversation later.
Our Line on AI
First Glance Underwrite doesn’t approve deals and it doesn’t turn them down. It simply reads the documents, organizes what it finds, and hands a trained underwriter a complete picture faster than that underwriter could assemble one alone.
The decision stays exactly where it belongs: with a real person.
Plenty of firms have gotten this backward over the past few years, treating AI as a substitute for judgment instead of preparation for it. Our position hasn’t moved.
We use these tools where they earn their keep, and that’s anywhere the work is mechanical, repetitive, and better handled by software than by a senior underwriter’s afternoon. We keep them well away from any decision that requires weighing a risk and putting a name on the answer.
Faster document review has never once lowered our standards. It gives our people more room to apply them.
Beyond the Software
Keeping people at the center of the decision is also what our Back Room Service partnerships are built around. Under BRS, Dare handles the underwriting, closing, and servicing for banks and independent lenders who want to fund factoring deals without building the operation themselves.
Partners weighing a BRS partnership rarely lead with software. Instead, they want to know who’s doing the underwriting, who picks up the phone when a debtor disputes an invoice, and who catches the problem before it turns into a loss.
The technology is real and we keep investing in it, but nobody picks a partner because of an inbox integration.
They choose BRS because the judgment behind the tools has been doing this work for decades and across several cycles, in a business where the gap between a good deal and an expensive one often comes down to what somebody noticed on a Tuesday afternoon.
The best tools in the business don’t change that. They just make sure the person answering has seen the whole file.
Curious what the full suite looks like?
As a Dare Back Room Service partner, you’ll get access to:
- Greater Income (like a lot more)
- Owning assets instead of commissions
- Zero investment down
- No personal liability
- Fifty-fifty split on risks and profits
- Portfolio management software from NN6, LLC
Want to learn more? Give us a call.
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Until next time,