Customer story
Capital Solutions Providers: Underwriting a Deal in 15 Minutes, Not 45
Chapters
Transcript
What Adam Mitchell said on camera, by chapter. Captions are lightly corrected for product and company names.
Full transcript
Why consistency matters at scale
I have been doing this business for over 12 years. I was a executive with a public traded bank and I was CEO of a regional bank. So we got to make a very good credit decision based on real live data. And most importantly, I knew by the volume that comes into how we do our business that the only way to manage volume is to make sure we do the process and workflows are consistently between one person and the other. So, the way we look at the bank statements to the cash flow to the Secretary of State findings has to be the same for every deal we do. So, it's very important to me on the front end to get that right.
Kaaj on the front end of credit
It's on the front end of the credits, the production credit side. We actually use it on the very front end. So, it takes our credit packages and does the analysis. Then we use that to have a workflow that populates out to our loan platform system and they're both connected by an open API so that they both talk to each other. So, it helps us really on the front end, because in our business, we cut down our decision making time in half. And if we're faster with our decisions, the deal gets booked quicker, I think we're able to retain more deals. So, it's really made us a very speedy front end system.
45 minutes → 15 per deal
I just know from over 12 years, I mean, we've cut it between a 45 minute deal and now we can do one easily from front to front in 15 minutes. So, that's assuming the package is complete, but it really helps us go through the package fast. So, the front side is the fastest I've ever seen the business working over 12 years.
Favorite part: bank statement analysis
I like the bank statement analysis, honestly, because I can look at the inflows, outflows, debt service coverage and also check the fraud of the bank statement. That's kind of tells you the true cash flow of the business.
Advice to other lenders
I would say, you know, it's a difference maker in, in how you want to scale your business and it makes the process consistently across the board. And, you know, in general, if you're not leaning into AI, you're going to lose, in my opinion. Versus a human in it, so when you talk about thousands and thousands of loans, I mean, you can't do that. There's tons of mistakes. There's tons of risk problems and all the above, and it just helps me sleep at
