A $528M construction loan, closed on Prodeal.

When SCP undertook a $528 million development loan in Honolulu, Hawaii, they knew they would need a streamlined and efficient way to handle due diligence tracking across all parties involved. For a deal of that size, which would take twelve months to close, it was imperative to have all due diligence in one place.

They knew that using traditional methods like email would slow the deal down, and with a borrower and many third parties involved, SCP needed to be as efficient as possible.

SCP uses Prodeal on all originations as a more efficient way to intake and track due diligence and distribute documents to the relevant parties.

The SCP team created a Prodeal room at the onset of underwriting, sent a virtual checklist of underwriting requirements to their borrower, and immediately began receiving documents in one centralized, secure location.

With both the borrower and the SCP team organized throughout the transaction, the whole process ran easier. Assigning folders to specific people held everyone accountable through all twelve months.

With the transaction closed, construction is just beginning. SCP expects Prodeal to play a big part in the ongoing construction process, and their borrower is already familiar with the platform, which makes uploading easy even after the loan closes.