Digital construction loans are becoming more and more important, as 66% of borrowers are interested in a fully digital process. Learn how to digitize your construction loan management process to meet modern borrower expectations.
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Contractor acceptance is a key component to construction lending, but unfortunately it is often overlooked or neglected. Lenders must understand the concept and process of contractor acceptance to successfully build and maintain an acceptance process. This includes understanding the benefits of these programs, the different types of referrals requested, important red-flags that may be encountered, the importance of a risk management policy, as well as an important tool that can help streamline a contractor acceptance workflow.