Built Technologies Launches New Offering to Assist Lenders with Consumer and Commercial Draw Inspections – Construction Dive
Built Technologies, the fastest growing construction finance platform in the U.S., today announced the launch of enhanced Inspection Technology & Services solutions designed to streamline tedious inspection workflows, increase project visibility, mitigate risk and proactively accelerate construction draws.
With this new offering, lenders have more options to digitally verify their project’s process. Lenders can expedite inspection scheduling and gain access to a nationwide network of prequalified inspectors or use their own trusted partners through the Built platform. Today, the ability to keep construction progress moving forward hinges upon the inspector’s ability to travel to the site and complete the request in a timely manner. By automating a manual, time consuming process, Built’s Inspection Technology & Services offers a proactive, secure, compliant workflow giving lenders a faster, more flexible way to accelerate the construction draw process.
“Inspections are a critical part of securing construction loans and kickstarting draws, yet they often become a bottleneck for project progress,” said Ed Rogers, Manager of Consumer Solutions at Built Technologies. “Built’s Inspection Technology & Services work to modernize the process and this offering is going to make it easier for lenders and builders to connect on crucial elements of project management.”
In order to give lenders greater visibility and consistent vigilance, Built’s Inspection Technology & Services solution offers a centralized engagement platform and a set of digital tools to maximize productivity and supplement traditional onsite inspections. In addition to expedited and pre scheduling capabilities, there are a number of digital tools lenders can use to keep their finger on the pulse of their projects including:
The streamlined inspections process will expedite loan administration and draw of funds, and allow for full integration with other aspects of the Built platform to assist in faster payment for vendors, budget management, lien waiver management, vendor management and more.
Built is the leading provider of construction and real estate finance technology. By providing a centralized platform for all stakeholders, Built enables increased efficiency, collaboration, transparency, and business agility—with decreased risk—allowing customers to improve the way that the communities around them are built and managed. The Built platform is used by more than 220 leading North American lenders and asset managers, and thousands of developers, home builders and contractors. To learn more, visit www.getbuilt.com.
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