With funding for product development, Digital Sandbox KC will help startup FormZapper take commercial mortgage documents digital. A software provider for commercial real-estate lending, FormZapper’s product LendingStandard is a web-based document management application for commercial lenders dissatisfied with the current imaging and homebrewed document management systems that now exist as alternatives to paper.
Founded in January 2012 by CEO Andy Kallenbach, FormZapper officially launched the summer of 2012 after COO Danielle Stine was brought on to the team. After generating a steady stream of business automating the paper processes of clients in healthcare, education and staffing, Matthew Marsaglia was brought on to the team as the product development lead.
Together, Kallenbach, Stine and Marsaglia pivoted the company in early 2013 and steered it toward a new, ideal market, bringing on Jan Valencia to assist with business development. Initially, FormZapper was a web-based document management solution for all types of small businesses. The company has since evolved into a web-based platform designed specifically for commercial real estate lenders.
Unlike alternative solutions in the marketplace that only assist lenders with parts of their loan origination process, FormZapper’s product LendingStandard is a soup-to-nuts solution that takes lenders through the entire loan process, from collecting borrower information, to generating legal documents for closing. FormZapper’s secure, compliant system increases loan production efficiency by automating redundant data entry, enhancing accuracy and enabling collaboration between all participating parties.
FormZapper is rethinking document management for commercial lenders.
Playing in the Sandbox
“With FormZapper, we saw the opportunity for the Digital Sandbox to help Andy and his team build a viable solution for an existing problem in today’s small business world,” said Jeff Shackelford, director of the Digital Sandbox KC.
Digital Sandbox KC provides proof-of-concept resources to support early-stage commercialization processes. Support for each Sandbox participant is customized based on the unique needs of the project as well as the resources required to move the product or service forward.
With funds from the Digital Sandbox, FormZapper will fund product development, creating a web-based checklist builder to help internal lending staff create customized checklists for implementing loan applications and processing checklists per bank.