Discover how Abrigo’s construction lending software simplifies loan management, boosts income, and mitigates risks for your construction business.

Introduction

Managing construction loans can be a complex and time-consuming process, fraught with potential errors and inefficiencies. Traditional methods often rely on spreadsheets and manual tracking, which can lead to delays, increased risk of overfunding, and poor borrower experiences. Abrigo’s Construction Lending Software, known as Construct, revolutionizes construction loan management by automating workflows, enhancing reporting, and providing real-time insights. This comprehensive solution is designed to streamline your lending processes, boost income, and mitigate risks, allowing your construction business to thrive.

Key Features of Abrigo’s Construction Lending Software

Automated Workflows

Construct automates the entire construction loan administration process, eliminating the need for tedious manual tasks. Flexible and adaptable workflows ensure that each step of the loan process is handled efficiently, from application to disbursement.

Detailed Reporting

Gain access to in-depth audit trails and real-time reporting with Construct. The software provides comprehensive construction lending intelligence across your entire portfolio, enabling you to make informed decisions quickly.

Automated Calculations

Reduce the risk of data entry errors with Construct’s automated calculations. The software swiftly calculates remaining budgets, ensuring precise financial management and minimizing the chances of overfunding projects.

Mobile Inspections

Facilitate on-site inspections by allowing your staff to access necessary information directly from their mobile devices. This feature streamlines the approval of draw requests, speeding up the funding cycle and keeping projects on track.

At-Risk Loan Alerts

Stay ahead of potential issues with real-time alerts for at-risk loans. Construct helps you identify and address risks promptly, decreasing the likelihood of overfunding and protecting your financial interests.

Benefits of Using Abrigo’s Construction Lending Software

Boost Income and Efficiency

Construct enables financial institutions to grow draw income by 8-12% by keeping the funding cycle moving smoothly. The elimination of spreadsheets and the streamlining of budget setups increase overall efficiency by up to 50%, allowing your team to focus on more strategic tasks.

Mitigate Risks

With detailed audit trails, real-time reporting, and automated alerts, Construct significantly reduces the risks associated with construction loan management. These features ensure that your institution remains informed and protected, minimizing the chances of financial discrepancies.

Enhance Borrower Experience

Improve your relationships with borrowers by offering a mobile-friendly tool that builders and inspectors can easily use. Construct enhances transparency and communication, providing a seamless experience for all parties involved in the lending process.

“Construct includes everything that we need to upload all the draw requests, invoices, and lien waivers for each project. And by allowing inspectors to enter their notes directly into each project, Construct makes the inspection process, which was one of the most time-consuming parts of the manual process, feel easy.”

Why Choose Abrigo?

Abrigo’s Construct is a leading solution in the construction loan automation space, managing over $70 billion in construction loans across nearly 100,000 projects for more than 160 lender clients. The software’s robust AI-driven analysis reduces human error and improves efficiency, making it an invaluable tool for banks and credit unions looking to enhance their construction lending processes.

Unique Selling Points

AI-Driven Automation: Reduces manual errors in drawing reviews and loan management.
Trade-Specific Insights: Provides relevant analysis tailored to specific construction trades.
Streamlined RFI Generation: Enhances communication and project flow through automated Requests for Information.
Version Control Features: Minimizes missed updates and changes, ensuring all stakeholders are aligned.

Success Stories

Many financial institutions have successfully integrated Construct into their loan management processes, experiencing significant improvements in efficiency and risk mitigation. By automating workflows and providing detailed insights, Abrigo has helped clients maintain a healthy and growing loan portfolio.

Conclusion

In the competitive world of construction lending, having the right tools can make all the difference. Abrigo’s Construction Lending Software offers a comprehensive solution for managing construction loans with ease and precision. By automating workflows, enhancing reporting, and mitigating risks, Construct empowers your business to achieve greater efficiency and profitability.

Ready to revolutionize your construction loan management? Get started with Context Fort today!