Organization Name: Builders Patch, Inc.
Project Title: Housing finance, simplified
Project Location: New York City
Underwriting multifamily loans is 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), CDFIs, housing developers, syndicators and banks to collect, collate due diligence data and create underwriting packages and investment memos. This will 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 pro formas to inform new deals with just a few clicks. Unify your siloed teams, and fragmented processes using our online platform!
Our team has more than 30 years of experience in the affordable housing and economic development space. Our mission in creating Builders Patch was to create a software that could be part of the solution for solving the affordable housing crisis. Because we share our clients’ critical mission of creating safe and affordable homes, we make the platform affordable so that it is accessible for non-profit developers and CDFIs alike. Builders Patch is our contribution to making this work easier and faster for all parties involved so that together, we truly can fund more and build more.
Builders Patch was founded in 2017 by Kanan Ajmera, a seasoned affordable housing veteran with over 20 years of experience. Backed by a team of tech and real estate professionals, she wants to revolutionize 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, efficient, transparent and supportive digital ecosystem for multifamily housing development supports housing finance agencies, housing developers, banks and syndicators.