If I Had Asked People What They Wanted, They Would Have Said Faster Horses – Henry Ford

That was hanging on the wall of the software development firm two years ago as we laid out the roadmap for a new debt management software platform. It seemed apropos to our discussion.

Until then, we had been building an interest rate tool. Our clients wanted to automate calculations like prepayment penalties and to run analysis like fixed vs floating or swap vs cap. I had asked and they had told me. Excel, but better. Faster horses.

But as we began to build this, we discovered clients really needed a different way of doing business. A way to manage the entire process, from pipeline through disposition. A system that would centralize and warehouse all the data for their assets. Software the entire team could use, rather than a patchwork collection of Excel spreadsheets and Dropbox folders. Interest rate calculations and analysis became an integral part of the system, but just one of many features rather than the focus of the system

Commercial real estate firms had been so busy chasing deals since the financial crisis, their infrastructure had failed to keep pace with their growth.

What had begun as an interest rate tool evolved into a revolutionary debt management software platform. Our clients didn’t realize they needed it, but once they started using it, they couldn’t live without it. Cars, not horses.


I don’t use the Pensford newsletter as a commercial for Pensford very often and I won’t use it as a commercial for LoanBoss after today. But I genuinely believe this will be transformative for commercial real estate borrowers. This was a massive undertaking and took a large software firm working for years to build. This isn’t a cute little app, this is enterprise-level software.

Here are the two comments we most commonly hear after demos:

  1. This does way more than I expected it to.
  2. This is easy to use and looks cool.

We didn’t build a better Excel. We built a better way to do business.

Benefits include things like:

  • Never run a prepayment calculation again – it’s always live. You don’t even have to click a button, it’s just there.
  • No need to download forward curves anymore, your cashflows always reflect the current forward curve.
  • Reports like Recourse, Contingent Liabilities, Extensions, Hedges, SREO – always up to date, automatically.
  • Alerts to help babysit critical covenants like DSCR and Reminders to track important dates like lender notices.

Lastly, this is not a service we are offering under the Pensford umbrella. LoanBoss is a software company and is being run as such. It has its own employees and infrastructure. LoanBoss has clients that use Pensford competitors for caps, swaps, and defeasances and we respect those choices. This is not a lead generator for Pensford. Other than the interest rate expertise needed to run calculations, the two companies are separate.

I named it LoanBoss because I believe commercial real estate is full of boring-sounding names and I didn’t want to pile on. One of the best things about real estate is the people – I love the personalities we work with. Let’s embrace that instead of trying to whitewash it. Personality is a good thing, even for software companies. And just like our own clients, LoanBoss takes its job and functions very seriously. But that doesn’t mean we can’t have some fun along the way.

If I have established any credibility over the last decade running Pensford, I would ask that you click the “Explore LoanBoss” yellow button below to check it out. If you’re still interested after that, let’s schedule a demo. Even if you don’t want to sign up, I am certain you will be impressed.

LoanBoss. Debt. Smarter.

Excerpt from October 7, 2019 Pensford newsletter.