Eight Impactful Benefits You’ll Gain from the Land Gorilla Platform

Level-up your construction lending program today

Land Gorilla Digital Construction Finance Solution
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As a seasoned construction lender, you know the struggles of making sure your projects stay on track, money is disbursed quickly and accurately, customers are taken care of, and potential risks are recognized early and dealt with swiftly. With everything that needs to be juggled, how best can construction lenders scale?

For over a decade, hundreds of construction lenders have reaped the benefits from Land Gorilla technology, gaining improved efficiencies, less risk and a superb customer experience. Land Gorilla’s simple yet powerful platform will solve some of your biggest pain points and allow you to grow your program with confidence. Read on to learn the top eight benefits you’ll immediately gain using Land Gorilla technology to manage your construction loans.

  1. More Profit
  2. A Single Source of Truth
  3. An Elevated Customer Experience
  4. Centralized Communications and Documents
  5. Repeatable Processes
  6. Better Guards Against Mechanics Liens and Tax Liens
  7. Faster, Higher Quality Inspections
  8. Access Important Information Easily and Quickly

1.

More Profit

Manual processes are killing your bottom line

The shortcomings of manual tools, such as spreadsheets, go deeper than you may think. Manual entry takes time and resources, is full of costly errors and introduces unnecessary risk. Draw disbursements take 5 times longer to pay with a manual process, resulting in lost opportunity for interest income. For a lender with 250 active construction loans, that slow draw process results in $1,500 per day of lost interest income. One lender we spoke with calculated they would gain $170,000 per month on their portfolio of 300 residential construction loans if they could shave just 2 days off their draw disbursement timeline.

Land Gorilla enables you to streamline and automate tasks and workflows for your team and your customers. Payments move faster (and safer) and more interest income is collected on the project.

Processing draws is much faster now because of Land Gorilla’s software…it really streamlined the draw process for us.

Trueline Capital

Going from a totally manual procedure wherein the draw process could take upwards to 5 days, we are now able to get draw funds out to the builder within 24 to 48 hours.

First Federal Bank

2.

A Single Source of Truth

Eliminate multiple budget versions among project stakeholders

This benefit may be simple in concept, but it solves one of the biggest pain points we hear from lenders and their customers. A centralized budget provides your customers direct access to real-time balance information and provides a single source of truth to everyone working on the construction project. Land Gorilla technology provides loan stakeholders controlled access to real-time budget information, keeps all parties on the same page and provides detailed accounting of the agreed-upon work.

Land Gorilla customers report a huge reduction in the back and forth with contractors, builders, and others involved in projects around the budget. Borrowers gain better visibility so there are no surprises or unnecessary delays in requested disbursements.

Draw requests are accurate with builders’ access to the budget of record, which significantly cuts down on back and forth between builders and Draw Coordinators.

Thrive Mortgage

I can see the budget in real-time—every line item, payment disbursed, and more. I really like the fact that I can immediately see accurate budget information without waiting for the lender to get back to me.

Marcia Cannon-Clark, Renovation Borrower

3.

An Elevated Customer Experience

Bring trust and transparency to construction lending

Your customers have growing expectations of their digital experience with you at all touchpoints. Lenders that invest in better digital experiences retain more customers, receive more recommendations and more cross-sell and up-sell opportunities. Digital transformation of the construction lending experience is no longer an option but a requirement to meet demand and maintain your strategic advantage.

Land Gorilla provides lenders the technology to do just that. Through a branded web and mobile app called OneSite, lenders can offer their customers an easy way to securely communicate and exchange information. It provides the fastest and most accurate method for your customers to submit draw requests and change orders and view real-time information on the loan. Stakeholders can access the budget of record, the loans permission-based document center, and engage in configurable workflows supported with embedded esignature opportunities. OneSite provides clear next steps, keeping everyone on the same page and projects on track. With your branding front and center, the exceptional experience your customers have is equated back to you.

With OneSite, I had full trust in the process. If I were to do another home renovation, I definitely prefer lenders who offer OneSite over those who do not.

Marcia Cannon-Clark, Renovation Borrower

OneSite streamlines the draw process to ensure there is no lag time and that we get paid fast!

Travina Love, Contractor Administrator

It’s a streamlined, one-step process. Draw requests are fully digital and completed by the builder in minutes, all in one workflow. We have a very diverse group of builder partners and it was important to have a solution they could use both in the back-office and in the field.

Thrive Mortgage

4.

Secure Communications and Document Management

Ditch disparate communications of multiple inboxes and paper trails

Land Gorilla brings communications and shared documents into one central location for your team to access. Messages and documents will no longer be stuck in inboxes or paper files. Each of your team members can instantly pick up where another left off.

Land Gorilla’s Messenger feature provides a loan-level communication tool that connects lenders and project stakeholders such as borrowers, builders, and contractors. It delivers increased efficiency to the communication process and provides a faster and safer way to exchange information. Communications are stored in a central location and your loan administrator team always has access to the latest communication. Messenger offers alerts within the system when there is new communication, keeping your team on top of inquiries.

Land Gorilla’s Document Center allows lenders and their customers to organize and manage all necessary loan-level documents for centralized visibility. No ball is dropped or overlooked and your team can deliver seamless service to your customers.

The Messenger feature is awesome! I am able to receive and send emails to the Draw Administration team and keep track of their communications in one place.

The Mortgage Firm

It has streamlined and reduced the difficult organizational experience typical with emails.

Conventus

5.

Repeatable Processes

Reduce decision making and create more consistent experiences

Consistency is key to hitting your goals and measuring results. It will make for happier customers, keep life simpler for your employees and reduce the time needed to complete tasks. There are many areas that Land Gorilla technology enables repeatable processes for your team, such as with templates and draw statements.

Templates are an important tool for your team to create consistent communications and save time from recreating commonly used letters and other communications. Land Gorilla’s Doc Builder is one example that makes producing templated documents simple, accessible, and easy to use. Lenders can create, store, edit, and access your most-used templates in one central location. Loan level variables can be populated directly into the template, saving your team time and potential mistakes from manual entry.

Draw statements are another important document for Construction Loan Administrators to record and share draw disbursement details with key stakeholders, ensuring that draws are paid faster and accurately. Land Gorilla provides populated draw statements that validate the key funding source balances to ensure disbursements are accurate, eliminating any risk of system discrepancies. Additionally, draw statements contain an audit trail of information including line item approvals, changes, overrides and more.

Having the ability to store all important documents specific to each loan and builder’s construction projects saves us time because we can easily upload any pertinent documents for a builder and ensures that our team has the most up-to-date documents

Thrive Mortgage

6.

Better Guards Against Mechanics Liens and Tax Liens

Remove the guesswork and confidently pay faster

Mechanic and tax liens can become problematic and be a sign a project is having issues. It is essential that construction lenders proactively protect their legal interests. Title updates and lien waivers are the means to that end, but the process can add days to your disbursement timeline. Additionally, statutory lien law is complex and varies from state to state.

Land Gorilla provides a powerful integration to access state statute resources and lien waivers as well as providing access to title updates directly in your draw workflow. You can quickly include lien waivers populated with loan-level data with electronic signature capabilities. Along with lien waivers, Land Gorilla provides a fast, simplified, and automated report on title updates. Ninety percent of reports are delivered the next day. This quick and reliable report is a great pillar in your legal due diligence during your draw processes.

Title updates used to take us weeks to get back. Now With Land Gorilla technology, we consistently receives title updates in less than 48 hours, and at significant cost savings.

Sierra Pacific Mortgage

7.

Faster, Higher Quality Inspections

Simplified vendor management and built-in quality control for better ROI

Progress inspections are essential in protecting your collateral and verifying work is in place prior to paying on a draw request. However, managing your inspection panel and progress inspections is a tedious, expensive and time-consuming practice. Land Gorilla offers fully integrated, best-in-class inspection products with one of the largest inspection networks in the US.

Land Gorilla’s technology connects our nationwide network of 15,000 inspection companies and independent field inspectors to your projects. Our process expedites scheduling and delivery for field inspections and provides the speed your customers will appreciate. A comprehensive set of project photos and field notes are included in each report and is reviewed by our team for quality and accuracy.

This full quality control process and vendor oversight is included, providing you with a simple, cost-effective solution to provide visibility into your project progress.

Since using Land Gorilla’s inspection solution we have been able to provide our builders efficiency with inspection turn times which makes the draw process faster.

Thrive Mortgage

Turn times on inspections are extremely quick. We are super happy with the inspection timing and the quality of the inspection reports.

Conventus

8.

Access Important Information Easily and Quickly

Share reports and data with the right person at the right time

Construction lenders frequently utilize spreadsheets to generate reports. Data has to be extracted from multiple sources and complex formulas are needed to provide any meaningful insight. Oftentimes the information in the report becomes outdated by the time it reaches the right people. Not to mention all the potential data entry errors and security risks this method introduces. Your struggle and multi-hour/day effort with this inefficient process is unnecessary.

Land Gorilla technology provides instant access to real-time data and reporting so you can maintain the health of your loan pipeline. Dashboards enable you and your team accurate visibility of key performance indicators at any time. Has year-end reporting always been a stressful time? Land Gorilla can help you maintain compliance with IRS tax requirements for 1099 MISC, 1099 INT and 1098 reporting. Easily review and report all your year-end tax obligations with total confidence in the data.

By leveraging Land Gorilla technology, your critical information is instantly accessible so you can take the right actions at the right time and never be in the dark again.

There are so many data points and details gathered during the process that can be utilized in reports. The software has a really robust reporting tool that lets you manage your pipeline. You can also create your own report templates with hundreds of different customizable data points. The software allows us to build reports that suit our needs.

Guild Mortgage

With Land Gorilla reports, we no longer have to relay additional Excel files to auditors and to leadership for end of the year reporting.

Trueline Capital

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