Accelerating Service with an Improved Loan Origination Process
Learn how Lenderfit streamlined its loan origination process with online forms, documents, and electronic signatures—all included in the Formstack platform.
David Teliaferro began building Lenderfit in 2018 with the goal to transform the lending process for lenders and customers through technology. As an entrepreneur, he had experienced multiple inefficient loan application processes based on outdated technology, paper, emails, and fillable PDFs. David knew there had to be a better way to perform loan origination.
This inspired him to launch Lenderfit, a commercial lending platform that simplifies and streamlines the way loans are processed by combining the client and customer experience on one platform. As he built out this financial workflow solution, he realized he needed to find a data management system that could easily integrate into his tool. His team needed a secure solution for customizable forms, automated documents, and accessible eSignatures to replace manual loan processing with a streamlined financial workflow.
Instead of building their own internal solution, Lendferfit decided to integrate the Formstack Platform into their tool. This saved their internal teams months of development time and minimized cost. Forms, Documents, and Sign all easily integrated into their system, making it look like one complete, secure tool. Formstack’s flexibility and adaptability made it easy for the Lenderfit team to create the workflows needed for all types of loans with features like Conditional Logic, Calculating Fields, File Uploads, and an open API.
With Formstack’s powerful data collection and management tools added into their system, many clients were able to manage 10x their normal application volume. Lenderfit now uses the Formstack Platform to manage:
