KYB for non-bank lenders: Practical struggles with beneficial ownership for smaller entities

Anyone here running into real friction with KYB for non-bank lending, specifically when dealing with smaller, privately-held businesses? We're a new player in the SME lending space, and while we've got our KYC down for individuals, the jump to KYB for the actual borrower entities is proving to be a slog.

Our process is pretty standard – collecting company docs, running searches, trying to identify beneficial owners. But the number of hoops we're jumping through to get adequate verification on who actually owns and controls these smaller LLCs and partnerships, especially when there are layers of ownership or family trusts involved, is significantly impacting our onboarding times. It's not just about the data collection; it's the subsequent verification and risk assessment for entities where the UBO isn't immediately obvious, or they're in jurisdictions with less transparent registries. How are others managing this without completely bottlenecking the application funnel? Are there specific tech solutions or workflow adjustments that have made a tangible difference for you beyond just adding more analysts to chase documents? We're finding it's a major operational drag.