The staff is able to assemble loan committee approval packages for each member without the fire drill of manual assembly and overnight courier charges in order to be ready for loan committee meetings.
Atlanta, GA (Vocus) November 16, 2010
V-Rooms Virtual Data Rooms, a product of Due Diligence Online, LLC, recently launched the V-Rooms Virtual Loan Document Organizer to facilitate the collection and organization of loan applicants’ information and accelerate the internal analysis and loan committee approval process.
The V-Rooms platform provides a more efficient way for originating and administering the lifecycle of a commercial loan or lease. When lending institutions use our solution for managing the loan approval process, all information is stored on a secure, central server that is NOT a part of the lender’s computer system, alleviating the firewall and security concerns when allowing applicants to upload their information directly into their virtual data room. Additionally, this information is readily accessible by the bank’s staff, advisors and management personnel… 24 hours a day from any location via an Internet browser.
“Our V-Rooms Loan Document Organizer is a simple web-based solution that makes it easy for the lender’s staff and loan committee members to economically access, review and exchange the crucial business data they need in order to make better, more informed decisions,” said Dan Bradbary, CEO of V-Rooms. “The staff is able to assemble loan committee approval packages for each member without the fire drill of manual assembly and overnight courier charges in order to be ready for loan committee meetings.”
Now, from the initial step, the lender is able to provide the loan requirement checklist as a series of folders inside a virtual room. Loan applicants are given the ability to upload the requested information into the folders as specified, so that the lender’s staff is not inundated with random piles of loan supporting documents flooding the office. Instead, all of the information is properly organized and may readily be reviewed by internal staff as well as external advisors including accountants, attorneys and consultants.
Due Diligence Online, LLC (800-731-6379). V-Rooms provides a privately-branded online virtual data room solution, designed to streamline document management, collaboration, exchange and archiving for Financial, Legal and Corporate professionals. Our document repository facilitates the compliant and auditable exchange of sensitive information to accelerate complex, information-intensive processes, while reducing the time and expenses associated with data distribution, courier, printing and travel.
Dan Bradbary, CEO DBradbary(at)V-Rooms(dot)com Phone: 800-731-6379