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Construction lending and securing a commercial construction loan is a complex process. Whether it is a short-term financing or long-term permanent financing, lending has traditionally been done locally as lenders have a very good understanding of the local market and reputation of the borrowers and parties involved.  Being cautious in the lending practice, along with regulatory changes and lessons learned from the most recent recession have lenders taking their time. However, that upfront due diligence is important to manage as mistakes cost time and money.

Expanding Your Capabilities

At Cloud Lending Solutions we feel that controlling risk, being efficient, and managing the customer experience for construction loans is an area that banks and financial institutions can leverage financial technology. The historical overload of paperwork, spreadsheets, emails, phone calls, and back-and-forth between the lender staff, builders, and borrowers can make the process overly burdensome. Our Construction Lending Solution is customer-centric and designed to meet the needs of banks with the most demanding requirements for construction loans. From submission of the application through disbursements, CL Originate™ manages the entire origination and underwriting process including loan file management, managing parties, project disbursement schedule, credit analysis, loan committee approvals, inspection alerts and covenants. Transparency and workflows help to reduce risk and friction in the lending process and ensure an exceptional borrower experience.

Externally Funded Leases

Solution components

 Define and schedule each construction project milestone and each of the individual construction activities associated with each milestone.Define and schedule each construction project milestone and each of the individual construction activities associated with each moduleCL Originate™ provides document management, credit exposure, and business risk analysis.  Workflows for task management, financial spreading, and configurable underwriting scorecards ensure compliance enforcement.   Loan committees can collaborate in real-time with borrowers.Integrations to core banking systems, loan accounting systems, and credit bureaus are leveraged to determine eligibility, provide analysis, generate an offer, and finalize the construction loan. Ultimately, this front-to-end construction loan platform helps lenders achieve increased loan production, higher profitability, faster decision-making, and better efficiency among teams.Integrations to Core Banking Systems, Loan Accounting Systems, Credit Bureaus are leveraged to determine eligibility, provide analysis, generate an offer and finalize the construction loan.  A construction loan platform providing increased loan production, higher profitability, faster decision-making and better efficiency of the lending teams Project Overview, Draw Requests, Disbursement Schule and Project Photos are all online, auditable and tracked so there is never a risk of required documents being missed in the construction loan workflow

Core Benefit

Approach

World-Class Construction Loan Borrower Experience

Construction Dashboard supports the unique requirements of construction loan origination by guiding users through the process of building construction project plans associated with commercial construction loans, including milestones and construction activities.

Construction Dashboards for Process Tracking

Automate the process of generating construction project documentation and disbursement schedules. Monitor the construction project throughout the construction process: project summary, milestones, construction activities, inspection schedule, and disbursement schedule.

Enhanced Relationship Management

Relationship dashboard gives community banks an unparalleled view of the borrowing structure, the borrowing entity, the credit analysis (i.e., credit score and related credit statistics), active loan opportunities, and customer financial information from your core banking system.

CL Loan™ Management – Disbursement, Servicing & Accounting

Streamline the disbursement of funds and manage loan accounting and billing statements. Fully configurable workflows help you manage loan payments, balloon payments, and converting to permanent.

CL Portal™ for Draw ManagementDuring the construction process, borrowers can submit draw requests online and upload required documents such as invoices, construction photos, and more. Project Overview, Draw Requests, Disbursement Scheule, and Project Photos.CL Loan™ for Funding & Servicing

Manage the draw request approval process, the disbursement of funds, and servicing activities including amortization, bills, and payments and accounting.

Core benefit

Get a real-time operational view of your business.Quickly respond to change. Add, update, and customize lease products on the fly with custom terms and flexible ways to manage assets.Improve margins by lowering technical, operating, and servicing costs.Grow top-line revenue by getting to market fast with new leasing products and funding approaches.Mitigate operational and regulatory risks with a single system of record.

Approach

Configurable dashboards and reports streamline tracking of collection agents and dealers.Configurable approach enables you to create new products, update underwriting rules, respond to regulations, and manage document requirements and credit rules by product or funder.Generate proposals and lease documents; track signatures with automated workflow tools; reduce underwriting times and lower costs.With real-time data at your fingertips, you have the power to make changes; downstream operations are updated automatically.Cloud-based approach reduces costs and increases agility.Gain visibility and flexibility with a single system of record; add reporting fields as required.

Originators

Allows lessors to cost effectively manage credit underwriting rules by funder or channel. Ideal for originators who want to expand into new financing models or leasing products.A complete solution for lease originators who need to manage different credit underwriting rules by funder or channel. It is a cloud-based, end-to-end lease origination platform delivering speed, flexibility, and cost savings. It is ideal for originators who want to expand into new financing models or leasing products. Cloud Lending’ leasing for originators is completely configurable, allowing for multiple credit underwriting processes managed by channel, funder and leasing product. An extremely flexible approach allows for the configuration of specific funder or product underwriting rules, document requirements, terms and credit profiles. A highly configurable approach results in operational efficiently, improved credit risk management and quicker time to market.

  • Fast Loan Origination
  • Integrated Project Planning
  • Online Draw Requests
  • Quick Disbursement of funds
  • Integrated Accounting and Conversion

Pain Point

Each funder follows a different underwriting process, requiring specific information to be collected and documents generated

Benefit

Quickly add new funding partners
Streamline origination timelines and cost
Outstanding customer experience and service
Realtime operational view of your business

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