Organization Name: Builders Patch, Inc.
Project Title: Builders Patch, Inc.
Project Location: Reach for the clouds with our remote-ready platform
Underwriting multifamily loans are complex, lengthy, and fragmented. Over $360 Billion in housing construction loans are managed and disbursed using excel sheets, phone calls, and emails. Builders Patch is changing the status quo. Builders Patch is an online cloud-based platform built to simplify and streamline the underwriting process for multifamily housing. We focus on affordable housing and work with Housing Finance Agencies (HFAs), Housing Developers, Syndicators, and Banks to collect, collate due diligence data and create underwriting packages and investment memos. We reduce the time to close a loan to less than 30 days. Additionally, we provide the tools you need to collaborate with team members, automate repetitive tasks, and monitor deal pipelines. Our platform allows you to make data-driven underwriting decisions. We can analyze your portfolios and deals to reveal actionable insights and use past operating and closing proformas to inform new deals - with just a few clicks. Replace your siloed teams, and fragmented process with one unified platform today!
New York City’s stock of safe, healthy and affordable housing options was limited pre-pandemic - 50% of renters were rent-burdened, and the housing gap exceeded 200K units annually. The pandemic exacerbated and magnified this crisis.
The City needs an expanded and diversified supply of safe, healthy and affordable housing units -- quickly! The current situation is challenging - the City is financially strapped; housing plans budgets have been cut; and projects are delayed or on hold. And pre-development is expensive and risky for affordable housing developers.
Enter Builders Patch. We are affordable housing and finance experts - and understand the nuanced problems on all sides of a transaction.
We support all the key players - HFAs, developers, syndicators and banks - and bring speed, accountability, efficiency and transparency to affordable housing financing and closing. We support the creation and preservation of safe, healthy and affordable housing communities.
Builders Patch was founded in 2017 by Kanan Ajmera, a seasoned affordable housing professional with over two decades of experience. Backed by a team of tech and real estate professionals, she wants to revolutionize affordable housing finance. Builders Patch is a cloud-based, secure platform where you can connect everyone, and collect everything you need to close more deals faster. Our remote-ready, supportive digital ecosystem for multifamily housing development supports the key players in affordable housing and accelerates the underwriting process.