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  • 1.  Loan Application Software

    Posted 07-20-2023 02:22 PM

    Reaching out to the network to see what loan software systems CDFI's are using for origination and doc prep. We are currently using LenderFit, but I've been charged to see what else is out there. Any recommendations are welcomed. 



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    Terese Caro
    President
    Legacy Redevelopment Corporation
    Milwaukee WI
    414.343.3091
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  • 2.  RE: Loan Application Software

    Posted 07-21-2023 09:50 AM

    Hi Terese,

    We can help with the origination as well as any sort of doc generation around promissory notes, to commitment letters, even credit review coversheets you might be using for approval committees, etc. IvyTek is an End-to-End loan management software that has specifically been working with CDFIs for several years now. Since then we've had a lot of focus go into launching some of our, now, out of the box features including TA tracking, participation loan management, and fund/treasury management.

    If you are interested, I would love to hop on a quick meet to see how we can help.

    Thank you!

    Michael Katzmayr

    Book a meeting

    337-212-0994 x110

    katz@ivytek.com



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    Michael Katzmayr
    Business Development /Solutions Engineer
    IvyTek
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    Original Message


  • 3.  RE: Loan Application Software

    Posted 07-21-2023 10:10 AM

    Hello,

     

    Highly recommend LoanWell. We recently went through a very extensive vetting of multiple platforms (I did 7 demos, and then in depth comparison of 5 of them). I would be happy to share more info if you want. Your needs might be different than ours, but we chose LoanWell and are currently in the implementation process.

     

    Best,

    Amanda

     

    Sent from Mail for Windows

     




    Original Message


  • 4.  RE: Loan Application Software

    Posted 02-26-2024 06:26 PM

    Hi Amanda, would love to connect with you about LoanWell. This company came recommended to us as a potential replacement loan manager for application, origination, and loan servicing. Would be great to hear from you about your experience with LoanWell.



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    Zachary Bezold
    Senior Operations Coordinator
    IRC's Center for Economic Opportunity
    San Diego CA
    619.304.3508
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    Original Message


  • 5.  RE: Loan Application Software

    Posted 07-21-2023 10:32 AM

    Ventures Lending Technologies, a long-time staple in the CDC industry, has been developing its business LMS specifically for CDFIs. We've recently added custom financial statement templates, custom fields, and the Transaction Level Report (TLR) - some of the features most-requested by our CDFI partners.

     

    We can handle your entire process: application intake using a borrower portal, underwriting, servicing, payment tracking, ticklers, all the way to payoff. If you participate in SBA lending we also integrate with Etran and produce the 1502 report. 

     

     Our pricing is both module- and user-based to create a custom package for your existing needs, with the ability to scale as you grow.

     

    We have grant funds available to help subsidize the first two years' subscription fees for qualifying CDFIs. We have earmarked 50% of our funds and encourage lenders to reach out soon to see if they qualify.  


    I'd love to have a conversation with you about it! Book an initial call with me here and we can decide whether a software demo makes sense.



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    Tiffany Williams
    Sales & Account Mgmt Associate
    Ventures Lending Technologies
    San Diego CA
    619-987-6326
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    Original Message