Windsor Advantage Scaled Loan Operations with Automatic Data Validation

About Windsor Advantage

Windsor Advantage is an SBA Lender Service Provider with more than $5.5 billion in funded SBA and USDA loans since 2010. Windsor Advantage is a trusted partner for financial institutions looking for assistance in the compliance of government lending initiatives.

Situation Before Rabbet:

Windsor’s team of expert construction loan administrators (CLAs) is tasked with navigating the intricacies of SBA loan compliance requirements. Before implementing Rabbet, the CLA team regularly received hundreds of PDFs from borrowers, each document filled with detailed loan information. The CLAs had to manually search for information like vendor names and amounts owed, comparing the data to budget line items to get the full picture of what actions were previously taken in a draw package.

Most of the team’s work was performed in Excel workbooks, supplemented with macros to extend each spreadsheet’s capabilities. However, only a limited number of CLAs could access an Excel workbook at any time. This caused versioning issues that introduced room for error and required extra layers of draw package review.

With all data validation performed manually, ensuring the completeness and accuracy of each draw package was a slower process. Construction loan administrators had limited visibility into a draw package’s full picture, necessitating several extra steps to cross-reference the information in each loan.

Solution:

Maintaining SBA compliance involves ensuring loan proceeds are spent according to approved uses, such as equipment, construction, or renovations. Rabbet now helps Windsor track loan proceeds, including invoices, written fund requests, and lien waivers, especially for multi-draw loans that require continued disbursements after closing. Once the loan is fully disbursed, it is marked as complete in Rabbet and transferred to the internal servicing team for ongoing support.

As a key back-office partner supporting banks and credit unions across the nation, Windsor Advantage aids their clients in the compliance aspects necessary to be successful in their government-guaranteed lending initiatives. Through their partnership with Rabbet, Windsor has implemented a faster system to track the uses of loan proceeds. Rabbet extracts key data from borrower-provided documents like invoices and pay applications, and ties them to the appropriate loan budget line items, helping the team spend less time on manual data entry.

Customizable reports show which loans are not fully disbursed at loan closing and identify missing documentation. “There's a lot of information at your fingertips in a very easy-to-access way,” said Colt Davis, a Construction Loan Administrator and Portfolio Manager at Windsor Advantage. “It doesn't require a whole lot of updating on your end because it's constantly updating as you're inputting more information into the system.”

Windsor uses Rabbet to organize the documentation needed for the loan disbursement process. The automated solution ingests all documents—even large PDFs—and lets users easily split and organize PDFs without spending time on a naming convention. The Rabbet platform uses data validation to check information like invoice amounts and ensure that they match the corresponding budget line item. With fewer manual tasks and more automated review points, each construction loan administrator can easily process more draws without sacrificing quality. 

Windsor can count on Rabbet to process hundreds of PDFs, extracting relevant vendor names and amounts owed. Rabbet then assigns these details to specific line items, allowing Windsor to track how they’ve handled those items in previous draws. Once the draw is complete, Windsor can download a zip file from Rabbet, which automatically renames the files, saving valuable time.