Vela

The Opportunity

Commercial loans are complicated and cumbersome, relying on a labor intensive,  “old-school” process. This  process typically involves hundreds of email exchanges between borrower and lender, with file attachments containing highly personal information, all while a frazzled loan assistant tries to keep everything on track.

By the time the loan closes, all parties are exhausted and ready to move on. However,  just 90 days later the borrower is back on the hook for more documents. A typical business owner doesn’t have time to remember every document due at every interval, and the bank doesn’t have the resources to proactively manage these exceptions.

Introducing Vela, a secure way to request the right documents at the right time.