Scott Sohr, a respected entrepreneurial presence in the Nashville community, guides STS Ventures, an incubator for startups spanning a wide range of growth industries. Among the companies that Scott Sohr leads as chairman is Built Technologies, which is focused on bringing the construction lending business in line with best practices in reliability, transparency, efficiency, and regulatory compliance.
The firm has a particularly vital role to play amidst a booming real estate market in which refinancing is declining and inventory is growing tight. With Built Technologies’ platform in place, the paperwork and phone calls traditionally involved in arranging loans is a thing of the past.
Lenders nationwide are already set up with digital draw management. This means that real time connectivity between a host of stakeholders, from borrowers and lenders to inspectors and builders, is assured. With administration efficient and painless, turnaround times are reduced and teams have time to take on the management of more loans.
At the same time, Built Technologies minimizes risk through taking human errors out of the equation and providing timely alerts should any discrepancies or red flags appear. These include loans that are at risk and construction scheduling that is potentially problematic. The automated platform also provides proven pathways to make construction lending a consistent moneymaker.
