Broadstreet Enhances Loan Services with FUNDINGO for Impact Investments

Broadstreet Strengthens Loan Servicing with FUNDINGO

Broadstreet Impact Services, a key player in the fund administration landscape for impact investing, has recently adopted FUNDINGO as its new loan servicing software. This strategic choice aims to bolster its operational capabilities in servicing high-impact loans.

A Shift in Infrastructure

In a landscape where economic opportunities and social justice are paramount, Broadstreet is at the forefront of addressing the complex needs of clients in the impact investment sector. The company currently administers over 160 investment entities, managing assets exceeding $2 billion. By integrating FUNDINGO, Broadstreet enhances its technological framework to better accommodate its clients' diverse investment strategies and reporting requirements.

One of the significant advantages of the FUNDINGO platform is its cloud-based structure, which allows for real-time access to loan data. This feature not only expedites service delivery for clients but also ensures transparency in reporting, a vital factor for investors focused on social impact.

Responding to Client Needs

As stated by Chris Rakers, Managing Director for Fund Administration at Broadstreet, “Impact investing isn’t a cookie-cutter business.” This resonates with the company’s objective; they aim for tailored solutions that address pressing issues such as affordable housing and health services. In doing so, Broadstreet is not only adapting to the dynamic investment climate but also enhancing its clients' ability to effect meaningful change.

The integration of FUNDINGO represents more than a technological upgrade. It signifies Broadstreet's commitment to evolving its services in alignment with client needs. Over the past 18 months alone, the company has seen a substantial increase in its client base, adding more than 60 new fund administration entities.

Collaborative Efforts with FUNDINGO

Chandler Schmitt from FUNDINGO emphasizes the operational challenges that mission-driven organizations often face. He notes that inefficiencies in operations can significantly undermine mission effectiveness and sustainability. FUNDINGO’s mission is to transform these complexities into strategic advantages for their clients. By streamlining processes and maintaining transparency in loan portfolios, FUNDINGO enables organizations to amplify their impact efficiently.

FUNDINGO’s capabilities are designed to address various operational burdens. The platform facilitates a comprehensive approach to loan origination, underwriting, servicing, and impact reporting, serving as a crucial tool for Impact Funds, Community Development Financial Institutions (CDFIs), and non-profits that strive for financial success and mission achievement.

Looking Ahead

The recent enhancements in Broadstreet’s operational framework align with the company’s goal of maintaining institutional-quality compliance, service, and reporting. With the completion of its first SOC 1 audit in 2024 and the introduction of the Entrilia platform for fund accounting and investor reporting, Broadstreet is poised to meet the evolving needs of its clients in the impact investment space.

These strategic advancements reflect a broader movement within the industry to prioritize social, environmental, and economic impact alongside financial returns. As Broadstreet continues to grow and integrate innovative tools like FUNDINGO, it remains committed to being a leader in the impact financial services sector.

For more information about Broadstreet's fund administration services, you can visit their website at broadstreetimpact.com.

About Broadstreet Impact Services

Broadstreet is recognized as an influential company in the impact investment space, providing a range of services including fund administration, advisory, and management. With over 20 years of experience, Broadstreet is dedicated to facilitating significant social, environmental, and economic impact across the United States, partnering with values-aligned investors and fund managers to create positive change.

About FUNDINGO

FUNDINGO is a specialized loan management platform designed specifically for organizations engaged in mission-driven lending. Its framework addresses the complexities of compliance and reporting, granting users the tools necessary for successful loan management and ensuring that they can focus on their impact objectives.

Through this partnership, Broadstreet and FUNDINGO are set to redefine the operational landscape for impact investment, ensuring durability and effectiveness in achieving predetermined missions.