Take Your Money Back
A Glimpse at the Industry
That’s a lot of money.
That’s also the amount of money that lenders and contractors around the world are missing out on.
According to studies from McKinsey & Company, the world economy’s productivity has increased by 2.8% per year, while the construction industry has only increased by 1%. Even more striking, the construction industry is missing $1.6 trillion in unrealized productivity.
How? Lack of technology adoption in construction has played a huge part in lagging productivity.
But that’s changing.
Technology in Construction
Technology in construction is expanding now more than ever. New software and innovation is taking current processes and streamlining them, simplifying construction lending for all parties involved.
eDraw, Inc. was created to streamline and simplify the draw process, and it has delivered exactly that. Lenders process payments quicker with no paper and less labor, and contractors get paid faster. But as we pondered our solution we asked ourselves, do we want to stop there?
Because construction lending is evolving, we’ve evolved, too.
Changing the Game
eDraw is now CoFi. CoFi understands that a successful relationship between lender and contractor is critical, and a two-way street. With years of experience in construction and development, CoFi is the common-sense construction lending solution that bridges the gap between lenders and contractors.
With this expanded vision for construction finance, we will bring both lenders and contractors:
Greater Efficiency by eliminating the need for repeated manual entries and static spreadsheets.
Better Communication through automatic notifications to the lenders, contractors, and borrowers on your job - leading to faster payment processing and getting paid quicker.
Stronger Relationships through transparent communication and on-time payments, leading to repeat business.
Try CoFi Today
CoFi invites lenders and contractors everywhere to be part of the technology shift. We, and other construction technology companies, are doing our part to improve productivity.
Now it’s your turn.
Learn more about how CoFi can improve your construction lending productivity by scheduling a demo today!
You can also check out this blog post from constructconnect to read more about technology that’s changing the construction industry.