- DATE:
- AUTHOR:
- Audrey Song
Accelerate Capital Deployment with Setpoint's Automated Borrower Approval Workflow
The Burden of Manual Borrower Report Auditing
Managing multiple customers and diverse deals across various asset classes is a complex task for lenders. Traditionally, this can involve entire teams meticulously understanding each deal's intricacies and manually auditing borrowing base reports. This "stare and compare" approach requires sifting through numerous Excel spreadsheets and navigating a maze of email chains to ensure every borrower-provided report aligns with credit agreements.
This manual process can be time-consuming and prone to errors, introducing unnecessary risks. Setpoint’s Capital OS technology transforms this process with a streamlined, automated way to verify and approve borrower reports, enabling lenders to deploy capital faster and borrowers to receive funding more quickly.
How Setpoint Transforms the Process
Setpoint’s Borrower Report Approval Workflow directly addresses these challenges by automating and simplifying the entire approval process for both lenders and borrowers. Our platform works with lenders to first establish a reliable “Source of Truth” for borrowing base calculations. Based on loan agreements and lender guidance, we custom-build each loan facility to reflect the necessary borrowing base reports, funding requests, and monthly settlement statements.
What this Mean for Lenders & Borrowers
Automated report verification
Setpoint replaces manual reviews with automated processes, running thousands of checks on borrower data and instantly flagging inconsistencies. This ensures lenders can protect their investments and borrowers can maintain compliance, significantly reducing the risk and time involved in deploying and accessing capital.
Fully customizable reporting
Setpoint offers fully customizable reporting to meet any requirements, accurately verifying a wide range of reports, including borrowing requests, monthly settlements, cash recycling reports, and collateral release calculations. Setpoint allows lenders to monitor facility tests at the asset level, providing transparency typically not available in Excel.
A one-stop-shop for both lenders and borrowers
Setpoint enhances transparency and communication by centralizing all interactions in one place. Lenders can grant borrowers access to the platform, allowing them to rectify errors promptly, reducing friction and risk. Borrowers can also run reports within Setpoint before submitting the actual funding request, proactively addressing any potential issues. The app also integrates features like in-app messaging, waiver requests, and audit logs, eliminating missed emails and miscommunications. This all-in-one solution reduces friction and risk for all parties, providing seamless access to funding.
