Golden Capital, a direct private money lender, was encountering significant challenges with the traditional construction draw process. Managing the funding and reimbursement of large renovation projects was cumbersome and inefficient, characterized by lengthy turnaround times and costly third-party inspections.

Solution

Golden Capital turned to Sitewire's digital platform to automate their construction draw process, allowing them to manage draws for construction loans much more efficiently. The platform's easy-to-use, automated, and streamlined system eliminated downtime and provided a single place for communication, resulting in faster turnaround times. Inspection costs were also significantly lowered, making it a more cost-effective solution for both Golden Capital and its borrowers.

Benefits of Automating Construction Draws

• Streamlined Draw Process: Resulting in faster funding and reimbursements.

• Efficient Communication and Tracking: Facilitated efficient communication and tracking of the draw process.

• Cost Reduction: Elimination of the need for costly and time-consuming third-party inspections.

• Project Management: Ability to easily manage changes to the project scope of work during the draw process.

Result

Since implementing Sitewire, Golden Capital has seen a significant improvement in efficiency and customer satisfaction. With the ability to process draws more efficiently, the company has been able to provide clean, organized packages to borrowers, resulting in positive feedback and repeat business. The automated system has also made it easier for Golden Capital to manage remote locations, such as Hawaii, which previously presented challenges due to longer turnaround times and higher inspection costs. The lower inspection costs have allowed Golden Capital to pass on cost savings to their borrowers, making it a win-win situation for all parties involved.

Overall, the implementation of Sitewire has resulted in increased efficiency, lower costs, and improved customer satisfaction for Golden Capital.

Testimonial

"Sitewire has completely revolutionized our construction draw process. It's efficient, cost-effective, and easy to integrate into our normal workflow."

James Golden, Golden Capital Group