Streamlining Draw Inspections: How Skybeam Capital Reduced Costs and Increased Efficiency
Jun 11, 2024
-
4 mins
SkyBeam Capital is a private money lending firm specializing in short-term real estate loans. The traditional construction loan inspection process presented various challenges, including the scheduling of inspections, time spent waiting for reports and reimbursement recommendations, and not having control over the reimbursement amount. These challenges spurred them to search for a more efficient and cost-effective solution than an existing draw processing software solution from another vendor. In this search, they discovered Sitewire and were immediately impressed by the technology, ease of use, speed, and customer service.
Solution
After switching to Sitewire, SkyBeam Capital no longer had to deal with the headaches of scheduling inspections. With the Sitewire approach, borrowers capture the job progress while remote, and licensed general contractors complete the inspections virtually. The general contractors are armed with their expertise, real-time labor and materials costs per zip code, and intelligent computer vision, ensuring an accurate assessment. The reimbursement recommendations were submitted in a much faster but still thorough manner, and the inspectors always followed SkyBeam Capital's reimbursement policies. Sitewire's platform allowed SkyBeam Capital to make changes to the amounts themselves rather than having to wait for a traditional inspection company to respond and contact the freelance inspector used. In the end, SkyBeam experiences tremendous time savings and greater flexibility in delivering excellent borrower service.
Benefits
Reduced inspection costs and increased profit margins.
Positive feedback from borrowers regarding the ease and speed of receiving draw funds.
Increased confidence in repeat business from borrowers.
Sitewire's platform provided greater flexibility and control, which streamlined the inspection and reimbursement process.
Results
By using Sitewire's process, SkyBeam Capital was able to reduce inspection costs and increase profit margins, which they could then reinvest in other ways to grow their business. They received positive feedback from borrowers who appreciated the speed and ease of receiving their draw funds, providing confidence that borrowers would return to do more loans with them. Sitewire's superior technology, ease of use, and excellent customer service fit perfectly within SkyBeam Capital's selling points of speed and superior customer service.
Testimonial
"I am confident that Sitewire is the future of the inspection and draws process. Their technology, ease of use, speed, price point, and customer service blow other inspection company services out of the water."
Grant Hicks, SkyBeam Capital
Latest Blog Posts
Private construction lenders are increasingly tempted to build their own draw management software in the name of control and cost savings. This blog breaks down why that approach often backfires—pulling focus away from core lending activities, introducing hidden operational risk, and turning lenders into accidental software companies. It explains the true cost and complexity of building and maintaining production-grade draw software, why borrower experience and uptime matter more than ever, and why buying a purpose-built platform is often the more disciplined, scalable choice in a shifting construction lending market.
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
Read more
Sitewire Launches BudgetIQ™ and PermitIQ™ to Make Pre-Construction Risk Standardization the Default
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
How Economic Shifts Impact Construction Loans
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
The Real Cost of Draw Delays: How Waiting on Funds Impacts Project Timelines
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
Streamlining Draw Inspections: How Skybeam Capital Reduced Costs and Increased Efficiency
Jun 11, 2024
-
4 mins
SkyBeam Capital is a private money lending firm specializing in short-term real estate loans. The traditional construction loan inspection process presented various challenges, including the scheduling of inspections, time spent waiting for reports and reimbursement recommendations, and not having control over the reimbursement amount. These challenges spurred them to search for a more efficient and cost-effective solution than an existing draw processing software solution from another vendor. In this search, they discovered Sitewire and were immediately impressed by the technology, ease of use, speed, and customer service.
Solution
After switching to Sitewire, SkyBeam Capital no longer had to deal with the headaches of scheduling inspections. With the Sitewire approach, borrowers capture the job progress while remote, and licensed general contractors complete the inspections virtually. The general contractors are armed with their expertise, real-time labor and materials costs per zip code, and intelligent computer vision, ensuring an accurate assessment. The reimbursement recommendations were submitted in a much faster but still thorough manner, and the inspectors always followed SkyBeam Capital's reimbursement policies. Sitewire's platform allowed SkyBeam Capital to make changes to the amounts themselves rather than having to wait for a traditional inspection company to respond and contact the freelance inspector used. In the end, SkyBeam experiences tremendous time savings and greater flexibility in delivering excellent borrower service.
Benefits
Reduced inspection costs and increased profit margins.
Positive feedback from borrowers regarding the ease and speed of receiving draw funds.
Increased confidence in repeat business from borrowers.
Sitewire's platform provided greater flexibility and control, which streamlined the inspection and reimbursement process.
Results
By using Sitewire's process, SkyBeam Capital was able to reduce inspection costs and increase profit margins, which they could then reinvest in other ways to grow their business. They received positive feedback from borrowers who appreciated the speed and ease of receiving their draw funds, providing confidence that borrowers would return to do more loans with them. Sitewire's superior technology, ease of use, and excellent customer service fit perfectly within SkyBeam Capital's selling points of speed and superior customer service.
Testimonial
"I am confident that Sitewire is the future of the inspection and draws process. Their technology, ease of use, speed, price point, and customer service blow other inspection company services out of the water."
Grant Hicks, SkyBeam Capital
Latest Blog Posts
Private construction lenders are increasingly tempted to build their own draw management software in the name of control and cost savings. This blog breaks down why that approach often backfires—pulling focus away from core lending activities, introducing hidden operational risk, and turning lenders into accidental software companies. It explains the true cost and complexity of building and maintaining production-grade draw software, why borrower experience and uptime matter more than ever, and why buying a purpose-built platform is often the more disciplined, scalable choice in a shifting construction lending market.
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
Read more
Sitewire Launches BudgetIQ™ and PermitIQ™ to Make Pre-Construction Risk Standardization the Default
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
How Economic Shifts Impact Construction Loans
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
The Real Cost of Draw Delays: How Waiting on Funds Impacts Project Timelines
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
Streamlining Draw Inspections: How Skybeam Capital Reduced Costs and Increased Efficiency
Jun 11, 2024
-
4 mins
SkyBeam Capital is a private money lending firm specializing in short-term real estate loans. The traditional construction loan inspection process presented various challenges, including the scheduling of inspections, time spent waiting for reports and reimbursement recommendations, and not having control over the reimbursement amount. These challenges spurred them to search for a more efficient and cost-effective solution than an existing draw processing software solution from another vendor. In this search, they discovered Sitewire and were immediately impressed by the technology, ease of use, speed, and customer service.
Solution
After switching to Sitewire, SkyBeam Capital no longer had to deal with the headaches of scheduling inspections. With the Sitewire approach, borrowers capture the job progress while remote, and licensed general contractors complete the inspections virtually. The general contractors are armed with their expertise, real-time labor and materials costs per zip code, and intelligent computer vision, ensuring an accurate assessment. The reimbursement recommendations were submitted in a much faster but still thorough manner, and the inspectors always followed SkyBeam Capital's reimbursement policies. Sitewire's platform allowed SkyBeam Capital to make changes to the amounts themselves rather than having to wait for a traditional inspection company to respond and contact the freelance inspector used. In the end, SkyBeam experiences tremendous time savings and greater flexibility in delivering excellent borrower service.
Benefits
Reduced inspection costs and increased profit margins.
Positive feedback from borrowers regarding the ease and speed of receiving draw funds.
Increased confidence in repeat business from borrowers.
Sitewire's platform provided greater flexibility and control, which streamlined the inspection and reimbursement process.
Results
By using Sitewire's process, SkyBeam Capital was able to reduce inspection costs and increase profit margins, which they could then reinvest in other ways to grow their business. They received positive feedback from borrowers who appreciated the speed and ease of receiving their draw funds, providing confidence that borrowers would return to do more loans with them. Sitewire's superior technology, ease of use, and excellent customer service fit perfectly within SkyBeam Capital's selling points of speed and superior customer service.
Testimonial
"I am confident that Sitewire is the future of the inspection and draws process. Their technology, ease of use, speed, price point, and customer service blow other inspection company services out of the water."
Grant Hicks, SkyBeam Capital
Latest Blog Posts
Private construction lenders are increasingly tempted to build their own draw management software in the name of control and cost savings. This blog breaks down why that approach often backfires—pulling focus away from core lending activities, introducing hidden operational risk, and turning lenders into accidental software companies. It explains the true cost and complexity of building and maintaining production-grade draw software, why borrower experience and uptime matter more than ever, and why buying a purpose-built platform is often the more disciplined, scalable choice in a shifting construction lending market.
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
Read more
Sitewire Launches BudgetIQ™ and PermitIQ™ to Make Pre-Construction Risk Standardization the Default
Sitewire announces the launch of BudgetIQ™ and PermitIQ™, two new products designed to eliminate pre-construction risk by validating budgets and flagging permit requirements before funds are deployed. Together, the tools help construction lenders and financiers move faster, reduce costly surprises, and fund projects with greater confidence.
How Economic Shifts Impact Construction Loans
Economic shifts are reshaping construction lending, slowing some demand while rewarding lenders who prioritize speed, flexibility, and certainty. This post breaks down the headwinds facing the market—and where smart lenders are finding opportunity despite them.
The Real Cost of Draw Delays: How Waiting on Funds Impacts Project Timelines
Draw delays quietly drain profitability from construction projects. When funding lags, crews stop, schedules slip, and trust erodes between lenders and borrowers. This post breaks down the real financial and relational costs of slow draws—and how digital construction loan management platforms like Sitewire turn speed into a competitive advantage.
