April 27th, 2021
Borrowers have been at the mercy of the traditional hurry up and wait lending process, which is not friendly to the Borrower in any way, especially in today’s market. A recent article on MSN Money stated that housing starts surged 19.4% in March to their highest level since 2006.
At Builders Capital we understand that speed and timeliness are a high priority when choosing a lender.
The way we see it – you need your approval – and you need it FAST! Your project cannot wait while the metaphorical paperwork is pushed through the traditional cogs of lending.
That is why we have introduced FAST TRACK.
The process is simple: Loan approval in three days. Your closing documents to escrow in five.
How Are We Able To Do This?
We spent time listening to our borrowers and looked within ourselves. Where could we consolidate timelines? What technology could we invest in to make the process simpler? How can we arrive at a decision that is streamlined and Borrower centric?
Chief Operating Officer Beth Glein sums it up best, “We are prioritizing our approval based on a few key things to put you in the driver seat on the closing timeframe. Delivering excellence is getting you a decision in hand fast, which is exactly what happens when your loan is on the Fast Track.”
The result is a streamlined path to loan approval that allows for a more agile experience. We worked diligently to reduce steps and eliminate as many asks from our Borrowers as possible. This is where the development of our technology in-house comes into play. We discovered what was important to the Borrower, produced a plan on how to deliver quicker approvals, and created the technology to match the pace we want to move at!
Our FAST TRACK process is built for sustainability for your future growth. Having the improved infrastructure and process is just another tool to better support you! While other hurdles may be in place, such as increased lumber prices and a limited supply of lots, obtaining your funds should not be one of them.
How Do You Hop on the FAST TRACK?
The short answer? You don’t have to do anything special to get this great feature on your next loan. No code to enter or secret handshake to memorize (though if you want to come up with a secret handshake, we’re cool with that).
Your next project with us will automatically be on the FAST TRACK.
As someone who engages with our borrowers daily, Inside Sales Team member Mallory Randazzo, is already seeing the benefits firsthand. “Now with Fast Track both Builders Capital and our borrowers get an opportunity to review projects in half the time! This provides an efficient and consistent experience from the point of loan application all the way through a loan closing. A win for everyone!”
At Builders Capital, we strive to be the Builder’s Most Valued Relationship. Our goal is to continue to build on that value we bring while iterating on better processes to support you as our borrowers.
Ready to put your next project on the FAST TRACK? Start here.
About Builders Capital
Builders Capital is one of the nation’s largest private construction lenders, offering innovative financing solutions to a wide spectrum of developers and homebuilders, from bridge, fix-and-flip and ground-up construction, to development and attached housing. The Company maintains offices in Seattle and Puyallup, Washington, with sales offices in Boise, Denver, Colorado Springs, Vancouver, Phoenix and Orlando. Builders Capital’s management team brings to the business over 100 years of expertise in residential construction lending, home building, real estate development, and loan servicing.