Question 1

What is Overwrite?

Accepted Answer

Overwrite is a consulting firm that provides outsourced loan underwriting, small business advisory/technical assistance, and consulting services to its clients.

Question 2

Who does Overwrite serve?

Accepted Answer

Our clients include Community Development Financial Institutions (CDFIs), Microfinance Institutions, Credit Unions, Community Banks, Financial Technology companies, Government Agencies, and Economic Development Organizations.

Question 3

What is Overwrite’s legal status?

Accepted Answer

Overwrite currently operates as a for-profit LLC registered in the State of Colorado.

Question 4

When was Overwrite formed?

Accepted Answer

Overwrite officially launched in August 2022. However, most of our staff have a decade or more of experience in community development financial institutions, banking, microfinance, education, small business, non-profits, workforce development, and technology.

Question 5

Where is Overwrite based? Do you work nationally?

Accepted Answer

Overwrite is based in Denver, Colorado. Yes, we work nationally with clients across the United States.

Question 6

What is Overwrite’s general experience?

Accepted Answer

Since our launch in 2022, Overwrite has underwritten 230+ loans, deployed 600+ hours of Technical Assistance, and provided 50+ hours of Consulting to 15 clients across 8 states.

Question 7

What is Overwrite’s capacity?

Accepted Answer

Overwrite currently operates as a team of seven. We have 4 Underwriters, 2 Small Business Advisors, and 1 Accountant on staff. Our combined capacity can process 24 loans and deploy 50 hours of TA per month.

Question 8

What types of loans/amounts are the best fit for your team?

Accepted Answer

Historically, 90% of our deals have been loans under $2m. We've underwritten loans in many industries such as Retail, Hospitality, Non-profit, CPG, Trucking, Consulting, Healthcare, Waste management etc. We've also done various loan types (term loans, line of credit, revenue-based financing, etc). We don't have as much experience with real estate / construction-based loans.

Question 9

Is Overwrite a Loan Service Provider (LSP)? Can you assist with loan servicing?

Accepted Answer

For now, No. Overwrite is not an LSP, and we focus on just the underwriting aspect of the loan cycle. We do not participate in the early stages (business development, intake etc) or the later stages of a loan cycle (closing, portfolio management, servicing etc).

Question 10

How does an engagement with Overwrite typically work?

Accepted Answer

We typically have a ‘pre-client’ meeting to understand your needs, the scope of the work, timeline etc. After this, we will send you a quote/proposal/sample client contract. Once all parties agree, we sign a client agreement and get to work. This can all be concluded within a week or two (depending on how fast your organization moves).

Question 11

How are clients assured of confidentiality?

Accepted Answer

Overwrite currently works with 15 clients (including the Government) and prioritizes safeguarding client information. We have standard client agreements, utilize a secured cloud storage platform for our work (with audit trail), and have insurance/cybersecurity coverage.

Question 12

Do clients need to sign up for all your services?

Accepted Answer

No, our clients only need to sign up for the service(s) they need (Underwriting, Technical assistance, or Consulting).

Question 13

How much are your services?

Accepted Answer

It varies. Because we offer a range of services to many types of clients, it is difficult to quote a fixed fee. For Underwriting, we can either bill clients ‘per loan’ or agree on a monthly flat fee (volume pricing). For Technical Assistance, we typically bill between $65-$75 an hour. For Consulting, we typically bill between $125-$250 an hour (depending on the service, scope, and timeline). We are also open to project-based billing options. Price range reflected above is as of 1/1/25 and is subject to change.

Question 14

How do you bill clients?

Accepted Answer

We typically send our clients an invoice once a month. This is typically within the first few days of a new month (for work assigned and/or done the previous month).

Question 15

What is your turnaround time?

Accepted Answer

It depends on the task/project. For underwriting, our TAT is typically seven business days. However, SLA is typically reflected in our client agreement.

Question 16

How do we determine if Overwrite is a good fit for us?

Accepted Answer

Scheduling a ‘pre-client’ meeting is essential. This is typically a 30-45 minute meeting to talk about your needs, scope of the project, timeline etc. It will also give us an opportunity to dive deeper into our experience, past client projects, working style etc

Question 17

I am interested in exploring an engagement with Overwrite. What are the next steps?

Accepted Answer

Book a 30-minute session to learn more about us: https://calendly.com/overwrite/30min 
Reach out: info@overwriteinc.com 
Refer us: overwriteinc.com/referrals

FAQs

Frequently Asked Questions