Prodeal and LoanStreet today announced a strategic partnership to give banks, credit unions, private credit lenders, and life insurance companies a best-of-breed approach to every stage of a commercial loan, from origination through servicing, sale, and payoff. The partnership brings together Prodeal, a leading virtual data room platform purpose-built for streamlining document-heavy CRE transactions, and LoanStreet, a leading provider of commercial loan servicing and loan participation software.
Commercial lenders have long managed too many disconnected workflows across internal and external teams, creating manual handoffs and risk. Documents rekeyed, resent, and reuploaded, files rebuilt, and critical details lost between systems. The Prodeal and LoanStreet partnership charts a new path, one where nothing gets lost as a loan moves from one stage to the next.
Prodeal gives lenders, borrowers, and third parties a secure, organized room for document collection, origination, underwriting, credit approval, and closing, keeping every piece of a complex commercial deal in one place. LoanStreet picks up from there, providing modern servicing software for bilateral and syndicated commercial loans, automated financial and regulatory reporting, and a nationwide marketplace where institutions can buy and sell loans and loan participations to manage concentrations, generate liquidity, and grow non-interest income.
“I often describe the life of a commercial loan as a relay race, where the document set is the baton,” said Andrew Damico, Chief Executive Officer at Prodeal. “Everyone knows the handoff is where races are won or lost, yet in commercial lending that baton gets dropped after almost every leg. Prodeal was built to keep the document set intact through origination, underwriting, and closing, and partnering with LoanStreet is about making sure that baton gets passed cleanly all the way to the finish line. We’re starting by bringing our two platforms to market together, and we’ll be working closely with our clients to shape how the platforms connect.”
“The strongest lending programs are built to enable scale,” said Ian Lampl, Chief Executive Officer of LoanStreet. “Prodeal brings exceptional organization and rigor to the first legs of the race, and LoanStreet carries the loan the rest of the way, ensuring lenders can scale their servicing, reporting, and, when it makes sense, sold or shared with partners efficiently for its entire life. Together, we’re committed to giving lenders a truly connected cradle-to-grave software experience and more capacity to serve the businesses in their communities.”
About Prodeal. Prodeal is a virtual data room platform purpose-built for streamlining document-heavy transactions. Banks, credit unions, private lenders, and life insurance companies use Prodeal to securely collect, organize, and manage documentation and workflows across commercial loan origination, underwriting, and closing, helping them close deals faster and with greater consistency. Learn more at prodeal360.com.
About LoanStreet. LoanStreet is a New York based fintech company that provides banks, credit unions, and direct lenders with modern software for commercial and corporate loan servicing, loan participations and syndications, loan trading, automated reporting, and portfolio analytics. Learn more at loan-street.com.
Media contacts. Prodeal: steve.schoenhaus@prodeal.com. LoanStreet: media@loan-street.com.