4 Use Cases of Lenderfit
In Lenderfit, there are 4 use cases for products that can be built:
Loan packages
Grant applications
Technical assistance courses
Post-approval covenant items
Loan Packages
From initial eligibility to the disbursement of funds, there are many steps that need to be completed in order to fund a loan. We wrote about the 4 Key Phases for Effective Application Workflows in an earlier blog post. We’re helping lenders break down each aspect of the loan application process into a checklist that is up to date and client-facing.
Grant Applications
Managing grant applications can be hectic. Especially when you’re working on a tight deadline and with a high volume of applications. The difference between a day and a week for a business owner can mean being able to pay rent or not, especially given the current climate. Organizations are working with more clients faster by collecting documents, signatures, and verification items inside of Lenderfit.
Technical Assistance Courses
More and more, TA providers are making their trainings, courses, and resources available online. By organizing programs inside of Lenderfit, organizations are able to communicate back and forth with clients similarly to how kids are communicating back and forth with their teachers online.
We help you set expectations, stay transparent, and hold clients accountable by creating an informational structure for your programs that’s personalized for each of your clients. We wrote more about how folks are using Lenderfit for TA here.
Post-Approval Covenant Items
Reporting back to funding resources is a crucial aspect for economic development organizations. Often an afterthought to providing services and resources to clients, collecting things like quarterly financial statements or impact surveys are historically challenging. Gathering crucial data becomes trackable and feasible by inviting your clients into a post-approval checklist following the disbursement of funds.
If you would like to learn more about how we’re helping, let’s talk!