PORTLAND, OR - Lendicom Inc., based in Portland, Oregon, has released an online application intended to help borrowers and brokers looking for commercial funding find the most appropriate lenders in an efficient and cost-effective way.
The application, hosted at http://www.lendicom.com, is centered around its commercial loan submission engine, which allows the financing requests of brokers and borrowers to be matched against the profiles of lenders' programs with an unprecedented level of accuracy, and enables its users to submit their requests directly to the matching lenders.
The service is offered free of charge and without obligation to brokers and borrowers, and there are currently over one hundred direct commercial lenders offering their programs for dynamic search on the site. The company reports that new lenders are applying for inclusion at the rate of approximately 7 per week.
Development of the site was prompted by the absence of services that effectively applied, in a cost effective manner, the matching framework of, for instance, online travel sites, to the unique problems of the commercial mortgage industry. "A few companies had made great progress in this direction," says A. Heinrich, president of the company, "but we believed that in general they were either too expensive for their users or had not developed the matching and profile creation process fully enough."
Beside the core function of matching brokers and borrowers with appropriate lenders, Heinrich reports that Lendicom's more general goal is to harness the unique capabilities of the internet to streamline the communication process between these parties. Planned improvements to the application include a document management system, which will allow brokers and borrowers to upload documentation, in digital form, and attach it to their financing requests, for transfer to matching lenders.
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