Integrations

Summary:
Integrate LendingWise with Land Gorilla to provide a seamless solution for managing construction loan draws and property inspections, leveraging Land Gorilla’s expertise in construction risk management and progress tracking.

Description:
By integrating Land Gorilla with LendingWise, users can efficiently manage construction loan workflows, including draw request approvals, property inspections, and project tracking. This integration would help lenders ensure compliance, reduce risks, and streamline construction project oversight.

Key Features of the Integration:

Automated Draw Management:

Sync draw requests between LendingWise and Land Gorilla, enabling lenders to approve, track, and disburse funds based on project progress.
Automatically validate draw requests against budgets, ensuring alignment with approved plans.
Property Inspections:

Leverage Land Gorilla’s inspection tools to validate work completion with photo documentation, site visit reports, and milestone tracking.
Automate inspection scheduling and sync completed reports directly to LendingWise.
Budget and Progress Tracking:

Monitor project budgets and progress in real-time, providing updates on milestones achieved and remaining work.
Include alerts for cost overruns or schedule delays, enabling proactive decision-making.
Digital Documentation:

Store all inspection reports, draw requests, contractor invoices, and related documentation within the LendingWise loan file for easy reference and audit readiness.
Maintain a clear record of project progress and disbursements.
Risk Management:

Utilize Land Gorilla’s risk management features to identify potential project risks, such as delayed milestones, budget overages, or incomplete work.
Ensure all draws are compliant with project plans and loan agreements.
Borrower and Contractor Collaboration:

Enable borrowers and contractors to submit draw requests, invoices, and progress updates via Land Gorilla, automatically syncing with LendingWise for lender review.
Provide a borrower-friendly portal to improve communication and transparency.
Custom Reporting and Analytics:

Generate detailed reports on draw disbursements, inspection results, and project progress for internal and external stakeholders.
Offer customizable templates for lender-specific reporting needs.
Why This Is Valuable:

Efficiency: Automates key workflows, saving time for lenders, borrowers, and contractors.
Accuracy: Ensures that draws are based on verified progress, reducing the risk of overpayment or fraud.
Risk Mitigation: Provides real-time insights into project risks, allowing lenders to address issues proactively.
Compliance: Centralizes all documentation and data for simplified audits and regulatory compliance.
Improved User Experience: Streamlines processes for all stakeholders, fostering transparency and trust.