Streamlining Draw Inspections: How Skybeam Capital Reduced Costs and Increased Efficiency
SkyBeam Capital is a private money lending firm specializing in short-term real estate loans. The traditional construction loan inspection process presented various challenges, including the scheduling of inspections, time spent waiting for reports and reimbursement recommendations, and not having control over the reimbursement amount. These challenges spurred them to search for a more efficient and cost-effective solution than an existing draw processing software solution from another vendor. In this search, they discovered Sitewire and were immediately impressed by the technology, ease of use, speed, and customer service.
Solution
After switching to Sitewire, SkyBeam Capital no longer had to deal with the headaches of scheduling inspections. With the Sitewire approach, borrowers capture the job progress while remote, and licensed general contractors complete the inspections virtually. The general contractors are armed with their expertise, real-time labor and materials costs per zip code, and intelligent computer vision, ensuring an accurate assessment. The reimbursement recommendations were submitted in a much faster but still thorough manner, and the inspectors always followed SkyBeam Capital's reimbursement policies. Sitewire's platform allowed SkyBeam Capital to make changes to the amounts themselves rather than having to wait for a traditional inspection company to respond and contact the freelance inspector used. In the end, SkyBeam experiences tremendous time savings and greater flexibility in delivering excellent borrower service.
Benefits
Results
By using Sitewire's process, SkyBeam Capital was able to reduce inspection costs and increase profit margins, which they could then reinvest in other ways to grow their business. They received positive feedback from borrowers who appreciated the speed and ease of receiving their draw funds, providing confidence that borrowers would return to do more loans with them. Sitewire's superior technology, ease of use, and excellent customer service fit perfectly within SkyBeam Capital's selling points of speed and superior customer service.
Testimonial
"I am confident that Sitewire is the future of the inspection and draws process. Their technology, ease of use, speed, price point, and customer service blow other inspection company services out of the water."
Grant Hicks, SkyBeam Capital
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