Keep close tabs on every loan account with our construction banking software.
Close oversight is essential for the successful management of any type of lending project, but especially when construction lending is involved. After all, construction loans are among the riskiest loan types with one of the highest failure rates of any industry. Fortunately, the right construction banking software can go a long ways towards mitigating risks and helping to support a successful project.
Prevent Common Problems with Our Construction Banking Software
Our software was designed specifically with the needs of the construction lending industry in mind and contains many features designed to help overcome common issues:
Wasted Time: If your employees are having to access multiple systems for information and activities related to loan accounts, they are wasting time and effort. You can improve their productivity by switching to our construction banking software, which is a single-entry system that can makes all vital information about a loan available to all authorized parties.
Missed Communications: Another potential problem is missed legal notices or other communications about the loan. Our software contains customizable templates for all vital communications, enabling you to generate and track important notices, letters, vouchers, draw requests, etc. and ensure they are sent to the correct parties.
Premature Disbursements: Sometimes contractors will request early disbursements because they lack their own working capital. If disbursements get too far ahead of project progress, this can be a problem. Our construction banking software helps guard against this possibility by enabling your staff to link inspection reports to budgets and disbursements in the system.
Lopsided Portfolios: Construction lending can be risky, and typically you want to diversify across different sectors like single-family residential, multi-unit, and commercial and perhaps take on projects in different parts of the country as well. With lots of loans active, you may have trouble keeping track of all the projects. Our construction banking software has amazing reporting capabilities that can help. You can run reports on individual accounts as well as on loan sectors by whatever criteria you choose. You can also run stress tests on your portfolio as a whole to see how a change in any one sector will affect your bank’s overall bottom line.
Make Our Software Work for You
Our construction banking software can be customized to suit your bank’s needs with over 800 features that can be toggled on or off. To learn more about how our software can improve your productivity, please contact us today for a free online demo.
