SALT LAKE CITY, Utah –mysherpas announced today that the United States Patent and Trademark Office (USPTO) has issued a patent for its unique lending technology platform. This is the first patent issued to the innovative technology company and will attest to its novel approach in the commercial lending market. The patent allows mysherpas to collect and package data for commercial and SBA lenders more efficiently than earlier methods and presents that information to its users.

About Our Platform

mysherpas is a single platform that gathers, consolidates and organizes loan documents while also maximizing visibility for all parties and creating a better borrower experience. Users can finally consolidate emails, attachments, texts, needs lists and application status into a central location that’s visible to everyone. mysherpas also provides a streamlined digital workspace at which borrowers, lending team members and managers can collaborate to seamlessly speed your loans to approval.

All standard forms automatically populate and are digitally fillable, signable and accessible to everyone, eliminating emails and text exchanges. mysherpas makes folder creation, file renaming, email downloads and shared drive uploads a thing of the past. It also seamlessly integrates these actions into an intuitive, user-friendly workspace that every stakeholder can access.

Users can review the entire loan pipeline at a single glance. They can easily identify the documents borrowers have provided and which ones still need to be gathered. mysherpas also updates stakeholders about missing documentation without needing to send a status email or make a phone call.

About mysherpas

A team of real estate, finance, technology and engineering executives founded mysherpas in Salt Lake City, Utah, on April 15, 2021. Based on their own experiences, they set out to create a smart commercial loan process that provides a single source of truth (SSOT), allowing borrowers and lenders to work together transparently and efficiently. Delivering this solution in a connected world helps lenders dramatically increase their capacity, improve deal flow and improve the loan experience for borrowers.

mysherpa’s founders had all experienced the commercial lending process as borrowers and lenders, which they found frustrating due to the process’s inefficiency. They also knew that loan origination and credit analysis create both expenses and value in banking, making this problem highly expensive. The founders also had ideas about streamlining this process and standardizing the integration of software technologies and data sources. They realized that this problem has existed for decades and that solving it could provide substantial cost savings for banks.

Future Developments

It’s shocking that today’s loan approvals remain a largely manual process, given how dependent they are on software. mysherpas is the only company that delivers a turnkey solution to streamline loan processing without requiring software downloads or IT integration. In the future…all lenders will work this way.