Construction projects are some of the most complex in the world. They also have among the highest risk in lending because it requires financing something that does not exist yet. It’s a loan for a plan to manage people, compliance, health & safety, project schedule, raw materials, supply chain, and financing risk.
Therefore, seeing all information when it comes to project tracking and financing is so important – it encompasses everything a lender needs to know about the project in order to manage construction loan operations. Rabbet’s construction loan software in Dallas provides the solution.
What Does Rabbet Do?
Rabbet is leading the digital evolution in construction finance by providing state of the art construction loan software that provides you with the competitive advantage to succeed in today’s fast-paced critical construction environment. Rabbet has been operating since 2017 and is supported by QED investors, Camber Creek, and Goldman Sachs. The key to our construction loan software is that it allows construction loan administrators to organize documentation and track loan compliance across the loan portfolio – all in one place. This allows you speed up disbursements, improve the accuracy of data, get alerts to potential errors, and ease the burden of administration.
The Benefits of Rabbet Construction Loan Software
As a provider of construction loan software in Dallas, we know there is a lot of weight on our shoulders to provide you with the tools to make your construction loan administration more efficient, more profitable, and remove the burden of worrying about unidentified risk. What are some benefits of using Rabbet?
Rabbet Improves the Construction Draw Review Process
Rabbet helps you monitor costs associated with construction projects. This is done by presenting a clear layout of project expenses and expenditures for a project in one location to track everything – no more scattered documents, files, and spreadsheets.
Expenditures can be automatically color coded to show which ones are over budget, allowing you to easily focus on priorities. The riskiest items and errors stand out immediately without needing to sift through a lot of data. Rabbet makes going through draws a breeze. This means draw review can be done quickly, monitoring risk while resulting in up to 75% less manual work.
Efficient Risk Management
Tracking your construction loan portfolio with Rabbet is smoother and more efficient than manual tracking or via the alternatives. Rabbet fits within your team’s workflows and uses automation to make inputting data easier and thus, making risk easier to track as well as identifying critical insights. Rabbet operates in real-time providing risk officers the information that you need when you need it. Rabbet is your accurate, real-time global tracker for your construction loan portfolio.
Scaling Construction Loan Administration Operations
Hiring construction loan administrators is increasingly difficult. As a specialized area of lending, the candidate pool is small. New hires in construction loan administration usually train on the job, as schools to not prepare them for the intricacies of tracking risk in construction projects. Rabbet provides guidance and standardization for your draw review process so new employees on the construction loan administration team can onboard faster and so managers can more efficiently oversee their work.
Rabbets Relationship with You
We never see our customers as a one-off. We build lasting relationships with each of our clients. To do this we value transparency both internally and externally, which serves our partners and earns their trust. Cooperation with our clients is key to both yours and our success. We’ve created valuable communication channels and access to our team that amplifies all aspects of our construction loan software and how it can most benefit your projects.
Schedule a Free Demo and Accelerate Your Construction Loan Process
Learn more about how Rabbet can assist your construction loan operations by scheduling a free no-obligation demo today.