PML vs. spreadsheets for private lenders.
Spreadsheets got your lending business started. Here's what changes when your loans, draws, payoffs, capital, and books live in one connected ledger instead.
Why spreadsheets break at a certain size
A spreadsheet is a fine way to track five loans. At thirty, it has tabs for draws, a tab for capital, a payoff template someone copies each time, and formulas only one person trusts. Every new loan means copying rows and hoping the references move with them.
The trouble isn't the spreadsheet itself. It's that a loan book is a set of connected records — the loan, its draws, its payments, its capital source, its books — and a spreadsheet keeps them connected only as long as nobody makes a mistake.
What changes when the loan is the record
In PML, the loan record drives everything else. The per diem comes from the loan's own rate and interest basis. Draws reduce the holdback on that loan. The payoff statement is built from its servicing history. Documents are generated from its terms. Loan activity posts to the general ledger. When something changes, it changes once.
The same job, done two ways.
| On a spreadsheet | In PML |
|---|---|
| Per-diem and payoff math by hand | Payoffs to the dollar in seconds |
| Draw requests by text and email | Draw requests in the borrower portal |
| Documents rebuilt for every loan | One-click closing packages |
| Books done separately at month end | Loan activity already posted to the ledger |
| Partners and banks asking "where are we?" | Live dashboard and read-only Bank Partner access |
| One broken formula away from a costly mistake | One system with an Audit Log and Recently Deleted restore |
| Borrowers emailing for balances | Borrowers check their own balance |
One connected system — from application to paid off.
Every step lives in one ledger. Interest, payoffs, books and statements calculate from the loan record, so nothing gets re-typed between spreadsheets.
- 1Apply
Borrowers apply on your own branded page; applications and website inquiries land straight in your pipeline and inbox.
- 2Underwrite
Build an ARV valuation report from comparable sales — at least one closed sale required — and check the deal against your LTV ceiling.
- 3Close
Generate the full closing package from the loan record.
- 4Fund
Fund from a capital account or line of credit; your cost of capital starts tracking from the loan's capital source.
- 5Draws
Borrowers request draws in their portal; you review, inspect, approve, and the holdback updates.
- 6Service
Interest accrues daily on full commitment or drawn balance, per loan. Maturities and default terms are tracked.
- 7Payoff
Borrowers request a payoff online; the payoff statement ties out to the dollar.
- 8Books
Loan activity posts to your general ledger: P&L and balance sheet, bank reconciliation, and month close.
Spreadsheet questions, answered.
- Is PML just a nicer spreadsheet?
- No. PML is a loan ledger: every loan has a record that drives interest, draws, payoffs, documents, capital tracking, and the general ledger, instead of formulas copied between tabs.
- Can I keep using a spreadsheet for some things?
- You can export what you need, but the goal is one source of truth. Running loans in PML and a spreadsheet in parallel brings back the drift you're trying to remove.
- Will PML calculate payoffs the way my note says?
- PML accrues interest daily on a 365-day basis, on full commitment or drawn balance per loan, with default interest and late fees. Confirm your note terms match before relying on any payoff.
- What do my borrowers get that a spreadsheet can't give them?
- A branded portal where they check their balance, request draws and payoffs, upload documents, and see payment history.
See each part of the ledger.
See it with your own loans in mind.
PML is in early access for a small group of active private lenders. Walk through the interactive demo, or tell us about your book and we'll be in touch.