What is Yodlee and why am I being asked to connect my bank account with it?
The Biz2Credit verification team may request that you connect your business bank account via the Online Account Verification service (called Envestnet Yodlee) that we use to ensure that the account information on file for your ACH account is complete, accurate and will not be rejected by your bank when our funding team sends your PPP loan to this account.
Using this service allows Biz2Credit to automatically verify the account information you have provided. It ensures that when Biz2Credit attempts to deposit funds in your account the bank does not return the payment, which would lead to long processing delays and prevent you from receiving the funding your business deserves. If you have connected your account online, Biz2Credit can easily resolve these kinds of issues without needing your involvement.
Security is our top priority when it comes to your information. Your private information is never revealed to Biz2Credit. We never see your username or password, and nobody at Biz2Credit will ever be able to login to your bank account or make any changes to your bank account. This is a read-only permission to see account transaction history and the account ACH details - nothing else.