Construction lending is a fast-paced industry. It might not be easy to get started with lending because so many variables are at play. Thankfully, Codefi can assist in making the construction finance process more straightforward.
Construction lending has increased dramatically during the last few decades. Technology has aided construction lending in the current year, with the internet and cloud-based technology making team communication more accessible than before.
Construction firms and lenders communicated primarily via email before the internet, which resulted in miscommunication, delayed funding, and other concerns. These problems are becoming less common these days, thanks to advances in cloud-based lending technologies.
We understand that our clients have a lot on their plates. Therefore lending software that works for them is essential. Codefi accomplishes precisely that, allowing our clients to accomplish more in less time.
Get to know CodeFi
CodeFi has been working hard to develop a solution for construction lenders since our inception. We wanted to build an app that matched our clients’ needs while also giving subcontractors and contractors the tools they needed to complete projects.
After years of development and engagement with our clients, we’ve helped provide Codefi to even more clients than previously. CodeFi now proudly serves lenders, developers, contractors, borrowers, and more on our cloud-based platform.
We recognize how critical it is for all project components to communicate, so we’ve developed cutting-edge solutions that increase transparency while lowering risk. We understand the need for clear communication between all parties involved in a project because we are lenders ourselves.
The CodeFi Advantage
CodeFi is one of the few platforms that can help many individuals on a construction site. While many platforms cater solely to lenders and borrowers, CodeFi ensures that contractors, developers, inspectors, and others are included in the process. This method lets all construction team members participate by providing a secure site for them to store data, order inspections, and begin the drawing process.
The cloud-based platform from CodeFi enables teams to collaborate in ways they’ve never seen before. Construction crews can benefit from various services provided by CodeFi, allowing them to focus on their work while CodeFi handles the drawing process.
Conduct Business in a New Way
For decades, construction lending has been a laborious process, with banks and financial institutions managing their loans and borrowers through email, mail, and phone calls. Because businesses have a large volume of documentation to look through, this procedure substantially affects efficiency and increases total risk.
Contractors can use CodeFi to conduct business in a new way. Construction enterprises can utilize CodeFi right out of the box because it simplifies construction lending.
The platform is simple to set up and customize, allowing teams to tailor the user interface with their branding. CodeFi now has the brand recognition that contractors want when using construction loan software due to this innovation.
How to Utilize CodeFi for Construction Lending
Construction lenders can use Codefi’s unified management platform to streamline lending. The platform supports thousands of loan kinds, including Residential, SBA, Commercial, Revolving+, and A & D.
Construction loans pay for the land, construction, and labor required to develop a business or a home. Construction loans are an efficient approach for property owners to finance the construction of their property since it allows them to cover the cost of all necessary resources.
The Codefi platform also keeps track of risk management, vendor management, and portfolio reporting. To help lenders, Codefi provides predictive funding suggestions, contractor performance analysis, and numerous data analysis tools.
Contact CodeFi Today!
Cloud technology and secure communication can help with numerous aspects of construction loan management, such as draw processing and communication. A cloud-based application can help businesses mitigate these risks by allowing teams to communicate and innovate more efficiently.
Our cutting-edge platform makes it simple for building contractors and developers to obtain the required materials. We collaborate closely with teams to streamline processes and make the lending process go as smoothly as possible.
Codefi helps teams better understand the loan process by giving them the tools they need to monitor project performance, send and request draws, and more. All project components can connect through this centralized communication hub, which can help the project progress. To learn more, contact us today at (877) 868-9009.