Raleigh, N.C., Sept. 5, 2018 – Today, CrediVia announced the launch of its hospitality financing marketplace. Designed to drive smarter decisions and stronger engagement, the cloud-based platform securely connects interested lenders and qualified borrowers through a simpler, faster and more transparent loan experience
See our concept video.
The inspiration behind CrediVia stems from the founders’ personal financing frustrations. Built by lenders and borrowers, CrediVia is a collaborative platform designed to yield a greater potential for mutually successful loans. The redefined process reduces common challenges found across commercial real estate borrowing and lending, uniquely focused for now on the riskiest of CRE assets – hotel loans.
Anuj Mittal, co-founder and CEO of CrediVia, explained, “It took me nearly a year to secure financing for my first hotel: six months of searching for a lender who would work with me and another three to six months of back and forth to get through underwriting. I realized that my challenges were part of a greater industry problem that needed to be fixed. I’ve spent years since then identifying the right partners to join with me in creating a solution that could make hotel financing as easy as it is in Monopoly.”
CrediVia centralizes all data for the borrower and digitizes lenders’ application workflow on a single platform. Borrowers enter application data once before being connected with multiple lenders looking for candidates who meet their criteria. Lenders receive a complete loan package right from the start that helps expedite decisioning and approvals, and have access to valuable reporting and analytics to support their underwriting and loan review. Plus, the comprehensive borrower data entered at the beginning drastically reduces unnecessary iterations between borrower and lender, easing burden for both parties.
Ajay Jain, CrediVia’s co-founder and chief product officer, added, “Our intent with this marketplace is to blend a customized, meaningful loan request with a detailed business plan – saving time, effort and money for everyone touching the deal. We’re taking out a lot of the guesswork that interrupts the typical loan process, while also providing lenders and borrowers a more secure way to exchange data. Efficiency and simplicity were leading drivers in building CrediVia, supported by protecting our users with a level of platform security and data privacy that gives them the confidence to move lending forward.”
The CrediVia name stands for the way to credit. The platform can be a reliable source for borrowers seeking new financing or wanting to refinance, and lenders can trust it to source qualified leads specific to their loan portfolio criteria, every time.
Mittal adds, “As a borrower I can attest that we’re frustrated with lenders’ processes and delays, which cost us money. However, I also recognize that lenders get frustrated with our general lack of data and preparedness. There is a human element to lending that has been buried in all of this. CrediVia is here not to aimlessly match borrowers and lenders, but to expose the deeper story – the personal need – behind every loan request.”
CrediVia is a cloud-based platform that directly connects hospitality lenders and borrowers, allowing them to have the greatest potential for mutual success. The online marketplace keeps the application process simple, fast and transparent without sacrificing the loan’s integrity. CrediVia becomes borrowers’ return source for new financing, and lenders’ reliable partner for loan relationships right for their portfolio. Visit CrediVia.com or follow @CrediVia for more information.