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. ![]() ![]() M33’s investment in GoDocs, and the subsequent hiring of CEO Steve Butler, comes at a time when the GoDocs solution can now automatically generate compliant documents in all 50 states, with two of the top ten banks (based on AUM) already leveraging GoDocs.Reduces the Loan Doc Process from Weeks to Just Minutes for Complex C&I Loans Since its founding, the platform has powered lenders to close more than 60,000 loans, across all types of commercial real estate, representing a total loan value of over $80 Billion. The company serves major banks, credit unions, private money lenders, insurance companies, and development funds. The company intends to use the funds to expand its line of loan documents to include business loans, lines of credit, commercial and industrial loans, as well as expand its out-of-the-box integrations with loan origination and loan servicing software providers.įounded in 1997 by President Gary Highland and now led by newly hired CEO Steve Butler, GoDocs provides a web-based automated loan closing document generation platform for commercial real estate, multifamily, and multiunit investment loans. The amount of the deal was not disclosed. GoDocs, an Irvine, Calif.-based provider of web-based legal document generation solutions for commercial lending, received a growth investment from M33 Growth.
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