Building a niche system that could handle both front and back-end processes was what made Fundingo the clear choice for Good Funding. With the ability to pull reports internally, applications can be processed in 10 minutes or less if a business provides complete cash flow records. In addition, integrating backend servicing with origination allows for all the data to flow seamlessly from one stage to the next, eliminating manual data entry errors. The loan servicing module saved the company a minimum of $7,000/yr worth of human capital by eliminating the need for manual daily journal entries. Fundingo has been integral to the immediate and continued success of Good Funding.
In less than eight months from funding its first deal, the company was able to close on a $20M credit facility due to the acceleration of its growth. In less than a year and a half, the company was able to expand to include a retail unit of the business. Fundingo continues to prove itself a superior tool to help Good Funding reach its objectives.