Churchill may have been founded in 2014, but it’s no stranger to real estate investments. The company’s principals have over 100 years of combined real estate experience and a strong track record of investing and managing billions of dollars in the U.S. market.
Focused on real estate debt, equity, and distressed opportunities, Churchill identified a significant opportunity to scale the firm’s investment in business purpose lending (BPL). The only thing standing in the way of seizing the full opportunity in front of them was the same manual, drawn-out settlement process that has governed BPL for decades. Without a more streamlined, technology-enabled solution, the number of transactions Churchill could process each week would remain flat.
Churchill’s forward-thinking team paired up with EarnDLT to bring the power of blockchain technology to BPL transactions. Earn’s platform significantly streamlines lender-to-lender due diligence, disposition, and settlement of loans via a private blockchain. Earn is uniquely positioned as a highly-customizable, SOC2-compliant, enterprise solution that empowers lender scalability.
The incorporation of blockchain technology expands Churchill’s capabilities in the BPL space with the ability to onboard and streamline the loan acquisition and intake process:
- Smart contract workflows allow for the easy automation of key tasks and tokenization of assets for more accurate record-keeping.
- The fractionalization of loan ownership allows multiple investors to contribute funds, reduce risk and receive benefits in proportion to the amount invested.
- Servicing data is transferred to and through the platform in real-time via Churchill’s API.
- Churchill can provide stapled financing directly through the platform thanks to a more streamlined process.
- In just the first quarter of 2022, Churchill produced record origination volume of $1.25 billion. The added scalability of the new platform provides Churchill with the ability to create a loan marketplace for investors with full transparency into its asset management process along with increased liquidity of BPL whole loan assets. Churchill intends to utilize the platform for securitization issuance in the near future.
Churchill’s collaboration with Earn also supports the company’s overarching Churchill Ecosystem that provides its clients with an easy, one-stop-shop for originations, servicing, capital markets and lender financing.