Featured in Nashville Post – Construction lending with faster funding, less risk and more cost control
The Nashville Post recently featured Built’s president, Chase Gilbert, in their “You Should Know” series. Here’s a link to the Nashville Post article, and the full story is below.
You Should Know: Chase Gilbert
Built Technologies president leads charge to cut friction, improve risk controls for lenders, builders
Author Geert De Lombaerde
In the age of wireless communication and instant data sharing, the financing of most construction projects still moves painfully slowly. Builders request loan draws that are processed on spreadsheets while inspectors document job progress on printouts and notepads. If a builder is lucky and planned ahead far enough, that next chunk of change might arrive a week after the ask.
|That won’t be the case much longer if Chase Gilbert and his colleagues at Built Technologies get their way. The company’s software — the product of a “What’s your biggest frustration?” conversation between Gilbert and local entrepreneurs Andrew and Scott Sohr — automates and speeds up those steps, giving all participants in the building process a real-time look into the funding and construction pipelines. The goal: Faster funding, more insightful risk management and better cost controls.|
“So much of the fintech industry is looking to disrupt banks,” says Gilbert, who is president of the company. “We’re taking a different tack. We want to empower lenders to be better. It’s not just a lending problem we’re fixing. It’s a whole industry.”
After two and a half years of intense product development and refinement — during which it has nevertheless handled almost $2 billion worth of loans — Built is ready for the spotlight. The company now employs 26 people. Gilbert’s hiring focus of late has been on sales, marketing and customer service employees. More than a dozen banks already are on board. Pending legal review, that number is set to double in the coming months.