This story appears in the
February 2000 issue of
Entrepreneur.
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Fast, efficient and tech- savvy, LOIS is the latest addition to
the family. Ac-cording to FMAC (Franchise Mortgage Acceptance
Company), LOIS should increase speed and efficiency in the
company's operations, enhance customer service and connect with
business partners. So who is this Wonder Woman named LOIS? It's
short for Loan Origination and Information Systems, a software
program developed especially for FMAC.
"Because we service a very niche commercial lending area,
there was no off-the-shelf software that could support the needs we
have," says Mohan Chhabra, senior vice president and director
of information technology.
In business since 1991, FMAC has become a leader in financing to
franchise-oriented industries. The new software addresses the needs
of franchise financing, which is different from other commercial
lending. According to Chhabra, LOIS was designed for extensive
flexibility to accomodate any changes in base operations or even a
new business. The future of LOIS is wide open as the company looks
toward extranet capabilities.
"Outside sources will have access through Web connectivity.
Business partners and customers will be able to transact business
with us over the Web, access deals in process, input information
and send documentation," says Chhabra. "This allows us to
turn deals around a lot faster."
Contact Source
FMAC, (310) 229-2630, www.fmax.com.