ECL Software offers dedicated construction fund control software to help track projects in detail and manage risk more effectively.
Construction lending can be a very lucrative business, but it also comes with many inherent risks. The success of a project depends on many factors, some of which are completely out of your control. However, with careful management of the factors that are under your control, such as appropriate loan screening, project oversight, and funds disbursement processes, making money from CRE lending gets a little easier. ECL Software’s construction fund control software has been tailor-made for the unique needs of CRE lenders, and it can give your bank the edge it needs to choose strong investment opportunities and manage them effectively.
Portfolio Management
Of course, one of the most important tasks in CRE lending is choosing investments wisely. Our construction fund control software offers a stress test functionality to assist your staff in determining how a given loan opportunity or loan mix might perform given a huge variety of “what-if” scenarios.
Project Oversight
Coming out of the recent recession, many construction contractors have depleted working capital. This poses a risk to lenders, because when contractors lack capital or credit they may attempt to get the funds from the lender. By using our construction fund control software, you can help guard against the risk of overly frequent disbursement requests or even liens from contractors by maintaining extremely detailed oversight of the progress of the project. The software provides a means to track budgets and payments and match them to progress reports and inspections.
Financial Transactions
Sometimes, administrative errors related to funds disbursements, borrower pay-downs, and various legal communications cause issues in CRE lending. With our comprehensive, single-entry construction fund control software suite, the possibility for administrative errors is greatly reduced. Our software makes it easy to stay on top of all budgets, schedules, and contracts to ensure that financial transactions get done on time.
Other Construction Fund Control Tasks
Our construction fund control software can also help with all the time-consuming minutiae involved in CRE lending administration. Your staff can enter data such as contact information or important dates into the system once and have it populate into all relevant areas. Our software also offers time-saving templates for budgets, communications, and more. With over 800 settings that can be activated or deactivated to suit your bank’s needs, our software is certain to provide the exact functionality you need in a user-friendly and efficient package. Please contact us today to learn more.
