MiKen Development Grows Business with Flexible Workflows by Built
As MiKen Development has streamlined its processes on Built, they’ve been able to get more work done faster. In their time on the platform, they have increased their number of projects and ensured efficiency while doing so.
Built has been a part of our growth and, from a financing perspective, allows us to take on more projects.
Challenge
With manual processes and multiple points of data entry, MiKen Development required a solution to manage their growing residential construction business. For many of their projects, spreadsheets had formulas that are difficult to scale to more complex projects and could not adapt to real-time changes in the field.
As their business scales, they require control and the adaptability that Built provides. Most importantly, they needed to be able to ensure that contractors and subcontractors were paid in a timely manner.
Solution
Built’s flexible solution enables construction lenders to provide a stellar customer experience from start to finish. Features within Built, including the simple, easy-to-use interface, have empowered the MiKen Development team with the tools they need to scale. Banks who use Built are able to help developers shift costs and line items, all within budget, with data available for historical records.
In particular, the ability to customize budgets and visualize that information within one platform has been beneficial to the MiKen Development team. CFO of MiKen Development Andrew Newby shares that Built gives the power of the finances for a project back to the developer, “I can lower interest costs and pay contractors on time using the Built system.”
I can lower interest costs and pay contractors on time using the Built system.
Results
As MiKen development expands its projects throughout the southeastern United States, they’re confident that it can manage growth with Built. Andrew Newby shares, “When comparing construction bank options, we weigh several important factors and have often ended up choosing the [banks] that use Built.
We’re thrilled with how the project gets set up and operates. ” The frictionless draw process enables MiKen Development to ensure everyone is paid on-time and improve their customers’” experience. Their team started with 4 houses and has grown to over 250 and is poised to continue growth as they build with Built.
INDUSTRY
Construction
LOCATION
Nashville, TN
BUILT SERVICES USED
TBD