Maintain precise oversight of all financial transactions with our construction disbursement software
With so many different parties potentially involved in a CRE project, it can be difficult to stay on top of all disbursement activities. ECL Software’s construction disbursement software not only makes it easier to make accurate and timely disbursements, but also saves your staff valuable time when doing so. Our software offers the ability to handle all of the activities related to disbursements in one convenient, user-friendly portal:
- Track and maintain original budgets, plus any budget changes
- Track vouchers and/or draw requests
- Compare draw requests to detailed inspection reports as needed
- Create disbursement checks and/or transfer forms
- Track payment due dates
- Record borrower pay-downs
- Request, record, and redistribute funds to and from other financial participants
Creating and Managing Budgets is Easy
Staying on budget is always a challenge in a construction project, but fortunately ECL Software’s construction disbursement software offers a robust budgeting feature that helps you stay on top of ever-changing budget requirements and make appropriate disbursements as necessary. Budgets can be created from templates, imported from spreadsheets, or entered into the system manually. Line items can then be tracked by categories, interest reserves, or through other special reporting features.
Never Worry About Front-Loading Disbursements
Front-loading a project, or over-reimbursing a contractor up front, can create significant risk for your lending project. Especially in the current economic climate, it is possible for a contractor operating on a compressed margin to use up those funds and require more before they are truly due for another disbursement, potentially causing a work stoppage on your project. When you use ECL Software’s construction disbursement software, however, the integrated loan and budget information makes it much more difficult to inadvertently front-load a project or disburse undeserved funds.
Want to Learn More?
Contact us today to learn more about how our construction disbursement software can be tailored to meet your unique business needs.
