As a disbursement company, you have a lot on your plate. It can be difficult to properly track how well you are doing or whether you are truly successful. After having worked with many banks, mortgage companies, disbursement companies, and private equity firms, we have established three elements that generally signify a successful disbursement company. Remember that at Fund Control we can help with fund control software and more.

Go Beyond the Basics

If you have put any thought into this question, you have likely assumed that being a good fund control company involves properly managing construction loans, having experience with all types of construction loans, knowing the details of the industry, and a basic understanding of construction management. Yes, these are necessary but these are attributes that describe anyone in this business. What you are looking for is how you can go above and beyond.

1. Do More Than Check on Progress and Agree to Fund

Yes, technically, your entire job is to fund the project. However, if you want to be the best in the business – and the most respected in the business – you will do much more than that. You should focus on ensuring that you are always distributing funds correctly. You should be responding to both the lender and the borrower as soon as they contact you. The funds you handle should be controlled in a responsible manner and you should be sure that the budget is under control at all times.

2. Do Not Follow a Predetermined Plan for Releasing Plans

Yes, you want to have a plan but you do not want to be inflexible. If you are a solid funds disbursement company, you will be able to see trends, respond accurately, and make sure you are documenting and reporting everything. Yes, use your experience and past projects to determine what you are looking for and how to handle disbursements, but do not simply put on blinders and following a rote plan that may not work anymore or for a specific project.

3. You Are Working to Minimize Risks for the Lender

At the end of the day, there is really just one goal that your clients are looking for: Are you working to minimize risk to the lender? Can you perform a thorough cost budget review and analysis at any point during the process? If so, then the lender can assume that you are distributing funds as expected.

Find Out How We Can Help Streamline Many Processes

If you are looking for unique ways to help clients then we strongly recommend you contact Fund Control at 800-625-5972. We can run a simple demo to show you exactly how we can help. Do not wait – call us today!