7a

An 83% Decrease In Time Spent Collecting Documents

 

IN THIS SUCCESS STORY:

Navigating Profitability and Resilience: The 7(A) team needed a way to keep up with the fast pace of sales and find a scalable solution.


Streamlining Workflows for Efficiency with FileInvite: FileInvite integrated seamlessly into existing workflows, offering real-time alerts and automated follow-ups for enhanced efficiency.

 

CONTENTS:

7A Funding

"We really had to find something to keep up with the pace of sales, a way to scale, other than continue to hire people that cost a tremendous amount for us to have on staff."

 

- Tony Brevard, Principal, 7(A) Funding

About 7(A) Funding

 

Headquarters: Atlanta
Employees: 10

7(A) Funding is an innovative company in the finance industry, specializing in the packaging and structuring of Small Business Administration (SBA) loans. This dynamic company plays a pivotal role in facilitating financial support for both banks and small businesses, acting as a bridge between lenders and entrepreneurs in need of SBA-backed financing.

By leveraging its expertise, 7(A) Funding addresses a critical gap for community banks that may lack the resources or knowledge to actively participate in SBA loan programs. The company's unique value proposition lies in its ability to streamline and optimize the loan packaging and structuring process, ensuring that small businesses gain access to the financial resources they require for growth and sustainability.

7a Funding + FileInvite

Navigating Growth Challenges

Understanding 7(A)'s Challenges & Tipping Points

Challenges 

7(A) Funding group helps community banks who don't have the resources or knowledge to participate in SBA loan programs. Although there was high demand for their services, their ability to grow was hindered by manual, repetitive processes and disjointed systems that prevented them from gaining an accurate view of data for decision-making.

  • Long wait times
  • Disconnected data
  • Double handling 
  • Multiple spreadsheets for both banks and clients.

Click here to learn more about document collection. 

The Tipping Point

Concerns about profit margins and business resiliency meant Tony Brevard, Principal and CEO of Capital Nucleus, 7(A) Funding's parent company, needed to find new ways to remain competitive. "We really had to find something to keep up with the pace of sales, a way to scale, other than continue to hire people that cost a tremendous amount for us to have on staff," Brevard said.

Brevard's team places a high value on their partner and customer relationships, and looked for automation to collect the documents needed for credit approval, provide a clear status of what was collected, and that could ensure the entire process was done correctly, providing a great experience for everyone involved.

Manage A Larger Volume Of Loans

FileInvite helps you to:

  • Get documents back 80% faster
  • Elevate customer satisfaction
  • Boost productivity and grow your firm
REQUEST A DEMO

Seamless Automation: Transforming Document and Data Collection

Efficiency in Action
 

FileInvite is a web based solution that automates document and data collection processes. It integrates with your existing workflow without extensive IT involvement. 7(A) Funding's custom branded portal, includes DocuSign integration, alerts and workflow that accurately reflects their business processes.

With alerts reaching their phone and even their watch, Tony's team were able to keep up to date in real time as clients provide each element of the document collection process.  The automated follow-up functionality allowed Tony's team to focus on what's important, while the platform chased clients for them. 

Click here to learn more about how you can grow small businesses faster with FileInvite. 

FileInvite is a web based solution that automates document and data collection processes. It integrates with your existing workflow without extensive IT involvement.

Rapid Results: Success in Reducing Loan Closure Time

 

83% Decrease In Time Spent Collecting Files

Team members used to spend at least two hours following up on loan application documentation. Now, staff spend 20 minutes per application.

Freeing up time to work on additional loans, projects and deals. Learn more here. 

Time To Close Was Reduced By, At Least, 53%

By optimizing their workflows and overlapping the time seeking approval and collecting closing documentation, the time to close a loan was reduced from thirteen weeks to six weeks.

In some cases deals closed in only four weeks.

Swift, Secure, Seamless: Streamlining Loan Document Processing with FileInvite

 

SAVE TIME

Save 2+ hours on each application

Not only does that save your team two hours of manual, repetitive work on each and every application, but it allows them to redirect their time to higher-value tasks.

MITIGATE RISK

SOC 2 Type 2 compliant with 256-bit encryption

FileInvite is also GDPR, HIPAA and FERPA compliant, allowing that you and your clients to transfer sensitive information with peace of mind.

 

WOW CLIENTS

Increase application completion rates by 34% 

Give your clients complete visibility into the document collection process, and confidence into how your collect sensitive information, improving application completion rates, and also member experience.

Delight Your Clients With The FileInvite Experience

REQUEST A DEMO GET MY UNIQUE BUSINESS CASE