Traditionally, generating loan contracts has been a manual and time-consuming process for lenders. Lenders have had to meticulously input borrower information into contract templates, often resulting in hours spent transcribing data and increasing the risk of mistakes. This inefficient and error-prone approach has been a pain point for lenders, hindering their ability to streamline operations and provide a seamless experience for borrowers.This can also be expensive if you choose to outsource this to a third party or legal team.
However, with Presta's innovative ability to auto-populate a loan contract, lenders now have a solution that revolutionizes this process, bringing automation and efficiency to their workflows. Through our conversations with hundreds of lenders we have been able to learn how to build the best solution possible that simplifies the generation of loan contracts, saving time, reducing errors, and empowering lenders to focus on what matters most: serving their customers and growing their businesses.
Use contract templates and designate borrower variables
Pre-fill relevant information automatically
Host all your contracts in one central location
By leveraging the power of this feature, lenders can generate base versions of contracts that are automatically populated with the borrower's information, including names, loan numbers, amounts, interest rates, maturity dates, and closing dates.
Moreover, by having all loan-related documents stored within Presta's centralized platform, lenders can easily access and manage their contracts in one place, enhancing organization/efficiency and dedicate more time to serving their customers' needs, ultimately propelling their lending businesses forward.