Challenge:

Finding the right software at the outset that provides the flexibility to grow as your business evolves while meeting the security demands of investors and customers.

From investor security compliance requirements to flexible terms and ease of use, software that can adapt to a growing company – from 5 to 1000+ accounts – are essential. Asset-based lending (ABL) is rapidly becoming an essential financing option for businesses of all sizes. With new companies actively entering the ABL market, it is no surprise that ABLSoft has been pivotal in helping start-ups across the country—from California to Texas to New York—get off the ground.

Solution:

ABLSoft has helped start up lenders gain a competitive edge by enabling a rapid and budget-friendly business launch with flexible, modern and user-friendly software.

• Flexible system configurations
  • A lender founded by industry veterans in Texas needed a system capable of supporting a broad range of collateral types. ABLSoft’s solution not only handled standard loan types but was also flexible enough to accommodate the lender’s custom deals. The ABLSoft platform includes close to 100 configurations for structuring deals and its modular features allows for easy growth.
• Minimal set up time with SOC2 compliance
  • For start-ups, quickly setting up a new system and training a team is critical when deal opportunities arise. ABLSoft successfully implemented a system for this lender, complying with its equity partner request within a one month timeframe. ABLSoft provided personalized training and with ABLSoft’s user-friendly interface, the lender’s team was able to onboard and fund clients expediently.
• User-friendly reporting
  • Reporting to management and equity partners was a top priority for this lender. ABLSoft offers numerous ready-to-print reports, and when the lender needed a special management report, its users could easily design custom reports in minutes using more than 80 data points provided within the Report Designer tool.

For now, the lender can spend more time on risk management and product provisioning instead of tedious, manual tasks. More importantly, the lender has the potential to grow and scale with ABLSoft’s enterprise rich platform that is used by numerous super-regional banks and large alternative lenders.