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Think of how many different programs you use to get the complete picture of your borrowers—background checks, credit checks, spreadsheets, or databases managing their information. They specialize in gathering data on your applicants, populating it in Salesforce, and using the data to evaluate your borrowers’ risk. LexisNexis also provides you with a score generated using all risk data, including non-traditional credit data. Coupled with Experian’s data verification service and your processes in Salesforce, risk evaluation can move faster and do more.

Ultimately, you will need to know what you need from your loan management system to decide confidently. A Salesforce admin may spend less time training your staff, but their extensive knowledge allows them to train more efficiently. When you find an administrator who has experienced helping other alternative lenders, you’re banking on their experience helping businesses like yours. Spend some time to think if you genuinely need availability or if you need the expertise.

Optimizing With an Eye on the Future Dominion Financial Services is a nationally recognized private lender in 49 states that originated over $180 million in loans in calendar year 2019 to experienced real estate investors through four lending products:  Fix and Flip loans, 30 year Rental loans, Ground Up Construction loans, and Small Multi-Family loans. Relying on systems like Excel, One-Drive, Office and other platforms, they built a system that suited their needs at the time, however, as they grew, the system was getting stretched and they foresaw the need to upgrade early. to enable a digital transformation and get ahead of the competition and set themselves up for continued long term success Dominion began the search to find a partner who could to help them transition to a fully digital, streamlined and integrated Loan Management System (LMS). The FUNDINGO LMS platform had one significant advantage over the competitors: FUNDINGO could be configured to Dominion’s specific lending process while the competition’s software would have required Dominion to change their process and potentially lose that special sauce they had already developed over years of hard work.

We are proud to announce that Inc. magazine has named CloudMyBiz on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. Specializing in Alternative Lending solutions with its Fundingo Loan Management Software, CloudMyBiz helps businesses grow through Salesforce implementation, development and consulting. Unlike a hodge-podge of outdated and unconnected systems, each handling only a single element in the lending process, the FUNDINGO solution helps alternative lenders attract and close more deals, accelerate the underwriting process, generate more pricing options, reduce errors, and ensure greater consistency. The FUNDINGO solution is built on the Salesforce.com platform and can be closely integrated with a company’s CRM, finance, document management and other systems.