Your construction loans deserve dedicated online construction lending process software.
If you’re using generic lending process software to manage your construction loans, you may be missing out on key features that could help improve productivity while also reducing certain risks inherent to the construction industry. Fortunately, you can get the features you need to reap these benefits by switching to ECL’s online construction lending process software.
Core Features of Online Construction Lending Process Software
Contact Management: Save time and ensure that you always have up to date contact info on all vital players in your project with our convenient single-entry contact management system. Effortlessly transform leads into borrowers and keep track of contractor and broker licenses.
Communications: Use our online construction lending process software’s built-in templates to cut down on the time needed to create important legal notices, vouchers, draw requests, etc. Anything created in the system will be tracked to help keep all your communications organized and reduce the risk of overlooking some vital piece of paperwork.
Budgeting: Import budgets from spreadsheets or create them manually and then track multiple versions of those budgets as the project evolves. With the capacity to give line items specific tags our software makes it easy to break down budget requirements into specific types of expenses.
Loan Administration: All the tasks involved in loan administration, from inspection reports to disbursements to pay-downs can be tracked in our online construction lending process software. The data is then at everyone’s fingertips no matter when or where they may need to access it.
Financial Transactions: Our system can connect to your back end accounting system to prevent manual data entry from causing discrepancies between the amounts authorized for disbursement and those actually entered on the checks or transfer forms. Our online construction lending process software can also handle revolving lines of credit as well as loan accounts with funds sources.
Reporting: Virtually any report imaginable can be generated using out software. The process is easy, whether you want to use our pre-defined reports or set up your own custom reports. Choose from automatic dashboard reports that refresh frequently for up to the minute information about accounts and account groups, as well as concentration reports and even stress tests.
Need Something Else?
Our online construction lending process software already has about 800 settings that can be switched on or off to help customize your experience. However, if you need further customization we are happy to explore this possibility with you. Please contact us today to receive a free, personalized online software demo and get a feel for our product.
