Fast and reliable collateral assessment with the Homematrix Desktop Valuation
An interview with Luc van Laarhoven, Managing Partner at Capilex
Capilex is the ideal partner for entrepreneurs who need a business loan quickly, especially in situations where banks do not offer a suitable solution. A crucial aspect of their approach is the use of real estate as collateral. However, this approach came with a challenge – valuing real estate quickly without sacrificing reliability. During an interview with Luc van Laarhoven, Managing Partner at Capilex, we dive deeper into this challenge and discover how the Homematrix Desktop Valuation turned out to be a solution.
Luc van Laarhoven
Managing Partner
Challenge
In the world of business financing, Capilex is the go-to partner for small and medium-sized businesses that are quickly looking for financing outside traditional institutions. Luc says: “Obtaining a loan can be quite difficult for entrepreneurs due to strict rules and time-consuming procedures at banks. At Capilex we therefore offer alternative financing that focuses on speed, financed by both our own capital and capital from investors.”
To provide entrepreneurs with the best possible service, they can first submit their loan application online, after which a “quick scan” follows. Entrepreneurs will then be told within a few minutes whether their application has been approved. A crucial aspect of this assessment is the evaluation of real estate collateral, for which Capilex uses Matrixian’s Automated Valuation Model.
After the applicant agrees to the provisional proposal, Capilex proceeds with a more thorough check. Although the AVM value is fast and efficient, it does not provide absolute certainty. As Luc emphasizes: “With an automated home value, we miss that extra bit of guarantee that is necessary when providing loans. Not only for ourselves, but also for investors who provide part of the capital. At the same time, we want the value to be assessed quickly.” The challenge was to obtain a certified valuation without it taking days, sometimes weeks.
Approach
At an early stage, Capilex showed interest in the possibilities of the Desktop Valuation, and the reasons for this were clear. First of all, the Desktop Valuation is fast. A full appraisal report can be obtained in just 4 hours, providing a significant time saving compared to the longer turnaround times of traditional appraisals.
In addition, Desktop Valuation is financially attractive. Traditional appraisals can easily cost between €700 and €1000, while the Desktop Valuation is less than eighty euros. “With the Homematrix Desktop Valuation we can save significant costs and keep our assessment process efficient, which is of course a plus,” says Luc.
Finally, the Desktop Valuation includes an additional check and signature from a certified appraiser with local expertise. Luc emphasizes: “This addition of an extra layer of trust, compared to ‘normal’ data-driven methods, is of crucial value to us. This strengthens the confidence of everyone involved in the entire process.”
With these benefits in prospect, Capilex decided to test the Homematrix Desktop Valuation. They wanted to experience first-hand how this innovative method could optimize their processes and serve their customers even faster and better. After two weeks of intensive testing and evaluation, they discovered that the Desktop Valuation has become a valuable addition to their financial services.
Result
The result of the implementation of the Desktop Valuation has brought significant benefits to Capilex. Luc emphasizes: “Thanks to the Homematrix Desktop Valuation, we can reduce our costs and at the same time keep our assessment process efficient, without sacrificing reliability. The signature of a certified appraiser with local expertise compensates for this.”
The Desktop Valuation has enabled Capilex to maintain their promise of a fast turnaround time, while significantly reducing the risk of collateral assessment. Luc explains: “By combining advanced data technologies with the expertise of certified appraisers, we can maintain speed while making a reliable assessment of risk. This benefits both us, the borrowers and our investors.”
“With the Homematrix Desktop Valuation, we can save significant costs and keep our assessment process efficient. By combining this with the expertise of a local appraiser, we can make a reliable assessment of the risk. This benefits us, the borrowers, and our investors.”
