The company is helping Starcity make cities more accessible to everyone with a little help from
construction loan software
SAN FRANCISCO, CA – (April 9th) – Contract Simply, a leading construction loan software company that
cuts days from the construction draw process, announced today at LendIt Fintech USA that its
software will assist Starcity in the development of affordable, accessible communities in the San
Francisco Bay Area.
Both Starcity and Contract Simply, fellow Y Combinator graduates, address hard to tackle
problems. Starcity’s mission is to make cities more accessible to those who are being squeezed
out of urban centers by rising housing costs. At Contract Simply, construction loan
administration for projects like those developed by Starcity is one of the few areas in
construction lending that has yet to benefit from modern technology. Contract Simply addresses
the manual document processing and compliance challenges for lenders and builders through
automation and machine learning. Through their partnership with Contract Simply, Starcity can
now process thousands of documents and automate tasks related to moving their large-scale
construction project towards lien-free completion.
“One of the many values we experience as a Y Combinator graduate is the amazing
connections with like-minded entrepreneurs,” says Will Mitchell, Contract Simply co-founder,
and CEO. “Starcity is creating living options for people that may not otherwise have access to
major cities. Our partnership is designed to help Starcity pursue their mission more efficiently
and with less risk and we’re more than thrilled to play a small part in their efforts to develop
thousands of new units by 2019.”
“Our mission is to make great cities accessible to everyone. Contract Simply empowers us to do
that. Commercial developments like ours require lots of financial inputs to keep projects running
smoothly,” says Jesse Suarez, Starcity co-founder and COO. “We have twelve projects
humming along with many more on deck; anything we can do to mitigate risk and improve
efficiencies leads to a better experience for all stakeholders. Contract Simply is helping us
ensure we adhere to the controls and assurances around the draw disbursement process,
something required by our lenders and banking regulators. This type of risk mitigation, in turn,
leads to lien-free, on-time, and on-budget completion of our projects.”
LendIt Fintech USA, a gathering of more than 6,000 industry professionals in San Francisco,
showcases the leaders in innovation across financial services including the digital banking,
fintech, blockchain and lending industries. For more information about Contract Simply, visit www.contractsimply.com.
Contract Simply is the most user-friendly and efficient construction loan management software
in the world. It’s a fresh and more efficient way for lenders, builders, and contractors to
collaborate and process detailed draw requests. By expediting processing while ensuring
compliance, Contract Simply customers manage their large-scale real estate developments on
time, on budget, and to lien-free completion.
Starcity is a San Francisco-based company that is on a mission to make cities accessible to everyone. Its beautifully designed living communities are built by identifying underutilized or abandoned commercial buildings and hotels to develop, adding to a city’s housing stock without displacing a community’s longtime residents. Starcity offers its members a private, fully furnished bedroom and bathroom, complemented by beautifully designed shared kitchens and living spaces, so residents can opt-in to being a part of a greater community while living in comfort. With community-building at its core, Starcity works with local community stakeholders and nonprofits to understand the communities it enters, offer volunteer and engagement opportunities to its residents, and become a source of energy and opportunity for the neighborhoods in which they offer housing. Software makes the entire process work with a suite of products that making living as a group efficient and enjoyable. Founded in 2016 by CEO Jon Dishotsky, Chief Product Officer Mo Sakrani, and COO Jesse Suarez, Starcity is based in San Francisco, CA.
About LendIt Fintech
LendIt Fintech is a recognized global internet finance industry leader, founded in New York in
2013. Its aim is to gather industry elites to discuss and explore latest trends in the development
services innovation as it hosts three annual conferences. LendIt also owns and operates one of
the world’s leading industry educational channels, Lend Academy.