Renovo Financial launched in 2011, focused exclusively on the Chicago market. This local focus allowed them to create and maintain their own customized document packages using a mail merge process. Their first out-of-state deal came in California, where they sought an attorney they could trust to prepare documents for an unfamiliar market. That’s when they first connected with Fortra Law, whose customer service and execution planted the seeds for a relationship that would pay off years later.
The Challenge
As Renovo expanded into new markets in the following years, they discovered that replicating their California success was not simple. Each new market required finding an attorney they could trust, someone who not only understood local compliance but was also willing to adapt Renovo’s existing document packages. The result was a patchwork of one-off attorney relationships that were time-consuming and often frustrating. The opportunity was there, but their current processes limited their ability to scale.
The Solution
Renovo was aware of automated document solutions, but in the relationship-driven world of private lending, they wouldn’t consider outsourcing without complete trust. Years after first working with the attorneys at Fortra Law, they crossed paths again at an industry event and learned about Lightning Docs, the document automation platform Fortra had built. Knowing it was backed by attorneys who shared their high standards, Renovo saw that an outside solution could match their own level of quality and control in any market.
“Making the switch required three key elements: automation, nationwide compliance, and the trust of attorneys who understand our needs. Without any one of them, it wouldn’t have been possible. Lightning Docs delivered the complete package (pun intended).”
— Remi Gangarossa, COO of Renovo
The Results
In 2021, Renovo made the switch to Lightning Docs for its loan document preparation and hasn’t looked back. In April of that year, they completed 45 loans on Lightning Docs across 11 states. Today, they average more than 600 loans per month and have expanded lending to 41 states, ranking as the #2 private lender by volume in the nation.
Renovo had the potential to be a national leader. By partnering with a trusted team that ensured consistent service and expertise nationwide, Renovo unlocked exponential growth.
