Pacific Coast Capital, LLC Accelerates Direct Lending Services With Crowd Machine
Pacific Coast Capital case study
Pacific Coast Capital Customer Experience
Industry: Asset-based Lending
Challenges:
- Streamline lending and reporting processes
- Providing real-time transparency for lenders and customers
Answer: Crowd Machine’s no-code, cloud-based customized application for dynamic lending
Results:
- Enables dynamic, real-time information sharing so both customer and lender always have up-tothe minute online data
- Makes it easy to access all data via the cloud, regardless of location
- Centralizes all credit and legal information into one efficient system
- Cuts down on customer inquiries since real-time data is transparent and accessible 24/7
- Supports company growth with easily scalable and installable platform
An Entrepreneurial Approach to Lending
Pacific Coast Capital, LLC is a California-based provider of asset-based loans to small and middle market companies across the western United States. Its core competency is providing asset-based loan
solutions to the growing number of entrepreneurial businesses who are seeking funding without the stress of banking or finance company restrictions, covenants and other compliance burdens. The
company focuses on lending arrangements up to $3 million. The company was founded by Jeffrey Lizar and Dave Drogos, finance industry veterans who have successfully started and grown a number of lending companies. As entrepreneurs themselves, Pacific Coast Capital understands that small businesses often need a different type of financial support than available from traditional lending institutions. For example, early-stage or high growth businesses, or businesses in turnaround mode, may find it difficult to impossible to secure funding. Pacific Coast Capital provides the entrepreneurial answer by providing asset-based lending, thus avoiding the federal regulations and complicated credit policies which lead to lengthy due diligence processes.
Getting to the Finish Line Faster
Pacific Coast Capital understands that early stage or high growth companies are driven by significant time pressures. The company founders needed an asset-based lending platform that could deliver approval and funding terms to client companies in an efficient timeframe, and one that would help both Pacific Coast Capital and clients stay on track throughout the financial relationship.
In looking for a solution to serve this entrepreneurial customer base, Pacific Coast Capital’s Dave Drogos drew on his experience with Metavine, Crowd Machine’s parent company, where he helped develop an asset-based lending system. Drogos searched the available tools in the marketplace and came to the conclusion he could work with the Crowd Machine team, using Crowd Machine’s cloud-based custom development technology, to develop the exact solution his team needed to serve customers.
Crowd Machine’s mission is to help companies like Pacific Coast Capital develop the custom applications they need to be more competitive and successful. Its no-code platform bypasses tedious application development cycles by breaking down monolithic systems into highly functional components to accelerate development in a timeframe that can bring desired results. Its GO Gadgets can be snapped together into custom flexible smart solutions, capable of meeting any immediate business requirement.
Crowd Machine enabled us to accelerate development of an asset-based lending platform that precisely met our goals for an easy-to-use, efficient system. It had the added benefit of rapid iteration, allowing us to refine the system and make updates or changes quickly.
Transparency Benefits Client and Lender
A key objective of the Crowd Machine developed solution was that it provided superb reporting and visibility for both the lender and client. With Crowd Machine, Pacific Coast Capital designed a system
that centralized all the relevant credit and legal information into one repository. It also enabled dynamic, real-time information sharing with secure encryption and unique identification and password
protection.
“Since we are an asset-based lending company, we need the real-time data access to see whether the customer’s loan request is supported by sufficient collateral. From the customer’s perspective they can immediately see their loan status to determine their capacity to borrow against the line of credit,” explained Drogos. He added, “We don’t get as many customer calls because they can see everything
related to their loan in real time on the Crowd Machine system.”
Future Growth
The Crowd Machine system is extremely easy to use and will support Pacific Coast Capital’s growth plans for the future. “It’s amazingly intuitive to get a new customer up and running,” said Drogos. “Borrowers can learn the system in just an hour of training. Even the non-technical clients are good at using the system.” This ease of use will give Pacific Coast Capital the ability to scale its loan portfolio and accomplish its corporate goals without additional staffing requirements and other costs.
“We anticipate considerable growth over the next year or so, and Crowd Machine will be part of the team making it happen,” said Drogos. “The system scales easily and contains all the application capability we need to be competitive. Crowd Machine has the winning combination of nurturing exponential growth with an efficiency that requires minimal staff.”
