Questions for Built Technologies
Digital Draw Management Software
What makes your company or product great?
Built Technologies was founded out of firsthand frustration with the challenges and pitfalls often associated with construction lending and the belief that technology could transform the way construction loan risk is managed. Built’s simple, secure cloud-based software streamlines the collateral monitoring and draw management process associated with construction lending – a process widely recognized as highly cumbersome, costly, and fraught with risk. By bringing the draw management process online, Built helps lenders reduce construction loan risk, increase loan profitability, transform the borrower experience, simplify compliance, and provide unprecedented portfolio insights. With Built, lenders have access to real-time data to make more informed decisions on their construction portfolio while simultaneously providing borrowers a convenient, digital experience with faster access to money to push projects forward.
What key challenge does it solve?
Built streamlines the collateral monitoring and draw management process associated with servicing construction loans. By digitizing this process, Built helps lenders reduce risk, increase profitability, transform the borrower experience, simplify compliance, and provide unprecedented portfolio insights. The platform eliminates spreadsheets, emails, phone calls, and paper files from the loan management process and connects all key parties through one central hub. The Built software automates manual administrative tasks and improves efficiency and organization by pinpointing the exact next steps necessary to keep loans moving forward with full transparency. In doing so, Built mitigates the risk involved in managing these complex loans. Built also brings an unparalleled user experience for all parties involved, giving banks that adopt the software a unique advantage over their competitors.
Best success story?
At Built, we genuinely care about the problem we are solving for the construction lending industry and created this company to transform the way construction loan risk is managed. The Built software was designed to handle different desired operational structures, tailored to a bank’s size and footprint. This allows Built to work with small community banks all the way up to large national banks. We continue to invest aggressively in product expansion and in key strategic integrations (i.e. loan origination, core/loan accounting platform, CRM, etc.) that help lenders streamline their operations even more.
Chase Gilbert, CEO
Matthew Russell, CTO
Pinnacle Financial Partners
Franklin Synergy Bank