More capital is available for CDFIs than ever before; so the ability to deploy funds quickly without requiring staff to work overtime is critical. You’ve likely experienced some amount of staff burnout over the past 18 months with the acceleration of demand and application volume. Pre-existing application processes that required excessive email and/or phone based guidance were pressure-tested, and many were stretched beyond their limits.
Lenderfit enables teams to create their own, cloud-based, customer journeys that result in a tenfold increase in application management capacity. A well thought out digital journey results in greater transparency. Clients are empowered with TA-like guidance that results in the right information at the right time. Applicants self-organize the data you need both for approvals, and long-term reporting.
Additional capacity also results in more revenue generating opportunities as many CDFIs have been contacted by cities and counties to facilitate recovery programs that are focused on reaching BIPOC businesses with additional capital and services. Many of Lenderfit’s clients leverage DownHome Solutions, Google Suite, and/or Salesforce alongside Lenderfit.
Thank you to Gavin Gleeson and David Taliaferro for providing us with a Lenderfit demo and for answering questions. As well as Ryan Richardson and Vasana Ly for providing us with your user testimonials and insight.
- We are recruiting for our 2022 CDFI Essentials cohort, a peer learning experience to support young CDFIs to learn skills, create policies and manage risk — while still meeting their mission to serve disadvantaged communities. Email Emily Gasner, Vice President, Strategic Initiatives & CDFI Incubator Director at firstname.lastname@example.org for more information.
- Join us at our last CDFI Incubator webinar of the year next Thursday, December 16, 2021 at 11:00am on Selling Your Loans. Learn how your CDFI can expand your microlending mission and impact faster through loan sales with the Entrepreneur Backed Assets (EBA)