![]() GoDocs, the automation leader in commercial loan document generation, offers a next-generation software platform for banks, credit unions, and private lenders that creates a streamlined process for closing commercial loans. GoDocs has officially raised the bar on automating C&I lending and accelerated loan documentation to a whole new level. ![]() GoDocs is the only automated loan documentation system that is engineered for efficiency, effectiveness, innovation, and sophistication, transforming attorney- drawn documents into GoDocs attorney- powered documents that produce the same (and often better) results while reducing the process from weeks to minutes. Automation has sped up the process, but with some systems, attorneys still must help lenders translate their underwriting requirements into legally binding representations and covenants on the front end and make modifications on the back end. Handcrafting loan documentation simply isn't an efficient or effective approach in today's modern world customers expect and demand more without sacrificing quality. Bancorp outperformed its peer group and the bank sector as a whole with approximately 4% average loan growth in Q3'22, including over 6% commercial and industrial (or C&I) lending growth and 6% card loan growth." Now lenders will be able to take advantage of GoDocs' C&IDocs features to outpace the competition. Recently, US Bancorp published great success in the C&I space, which clearly shows that while interest rates have increased, C&I lending remains strong. We've turned those weeks into just minutes for the entire C&I industry with an unmatched product." We knew we could do better for our customers, and we have. "All too often, we have heard horror stories from customers where the loan documentation process – both standard and complex - has taken days, weeks, or even months to finalize, and along with that comes exorbitant legal fees. "Once again, GoDocs has taken a leadership position in the document generation category by automating the full range of C&I loans, including complex loan structures that previously had to be handcrafted by attorneys," says GoDocs CEO Steve Butler. Interest-only bridge loans secured by a pledge of ownership interest(s) and/or a business assets general security agreement. Revolving line of credit loans (borrowing base transactions secured by multiple collateral types, such as inventory, receivables, intellectual property, equipment, accounts, etc.) īusiness line of credit loans (revolving or non-revolving) secured by all business assets and ![]() Line of credit loans (multiple disbursements typically used for collateral types representing equipment, vehicles, or inventory) Term loans (single disbursement with interest-only or amortizing repayment options) Specifically, some of the highlights of the new C&IDocs platform include the ability to document the following transactions: Simply stated, customers can generate a sophisticated, 50-state compliant product that articulates their important decisions into attorney-powered documents. Customers can engage in the dynamic C&IDocs platform to create a range of capabilities, from easy to the most complex, to support their specific underwriting requirements, e.g., multiple collateral types, revolving or non-revolving lines of credit, and unique collateral monitoring customizations that include financial covenants for all loan parties, all without any outside legal support. With C&IDocs, the new capabilities are robust, easy to use, and come with the most comprehensive and versatile built-in lender protections. We are so thrilled with the quality and process of their software," commented Michelle Cardell, SVP Loan Operations, Anchor Bank. "GoDocs C&I Docs is an easy-to-use Cloud loan documentation solution. GoDocs has raised the bar on C&I lending to provide customers with an attorney-powered solution that reduces the loan documentation process to just minutes for all C&I loan types and complexities. C&IDocs represents the most powerful set of commercial and industrial loan documentation features and capabilities on the market. GoDocs has once again transformed the industry with the release of its attorney-powered C&IDocs platform. IRVINE, Calif., Ma/PRNewswire/ - Today, GoDocs, the automation leader in commercial loan document generation, announced the expansion of their commercial lending automation product line, introducing C&IDocs ™, a commercial and industrial (C&I) loan doc generation tool. Reduces the Loan Doc Process from Weeks to Just Minutes for Complex C&I Loans
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