CRE Banking
done a better way

The banking features on the Covercy Platform give general partners (GPs) several benefits, including the ability to open bank accounts quickly and easily, organize bank accounts underneath assets or properties, and move money instantly via ACH debit between assets or to their investors, or from their investors into an asset account. One of the biggest differentiators for the banking features is that banking functionality is integrated right within the investor management platform, making it easy for GPs to manage their finances and stay organized.

Additionally, funds sitting in checking accounts opened with Covercy's banking partner, Thread Bank, earn a high-yield APY while staying accessible and liquid. This is a hugely beneficial feature for GPs and their limited partners (LPs) who may have committed capital sitting uncalled in a savings account or checking account for months or even years during capital projects on a property or development. This money could be earning additional revenue for the GP, the LP, or the asset/property while it sits, but still be easily accessible should the need to call it sooner than planned arise.

Here are some additional details about each of these features:

• ?Opening bank accounts quickly and easily: It is easy for GPs to open bank accounts for their investment funds. This can be done online in just a few minutes, and there are no minimum balance requirements or fees. Individual debit cards for each asset account can be issued as well.
• ?Organizing bank accounts underneath assets or properties: The banking features allow GPs to organize their bank accounts underneath assets or properties. This makes it easy to track the financial performance of each asset or property and to ensure that funds are being allocated appropriately.
• ?Moving money instantly via ACH debit: The banking features allow GPs to move money instantly between asset accounts, distribute payments to their investors, or collect capital contributions from their investors into an asset account. This can be done 24/7, and there are no fees for ACH transfers.
• ?Funds earning a high-yield APY: Funds sitting in checking accounts opened with Covercy's banking partner, Thread Bank, earn a high-yield APY. This means that GPs and LPs can earn additional revenue on their committed capital, even while it is sitting uncalled.
• ?Funds staying accessible and liquid: Funds sitting in checking accounts opened with Covercy's banking partner, Thread Bank, stay accessible and liquid. This means that they can be easily withdrawn or transferred if needed.

Overall, on the Covercy Platform, the banking features offer several benefits for GPs and LPs. These features can help to streamline the financial management process, improve transparency, and generate additional revenue.

Covercy is a valuable tool for CRE deal sponsors & general partners. It can help streamline banking operations, automate many administrative tasks, improve transparency for LPs, and even add a new revenue stream by taking advantage of high-yield APY rates on FDIC-insured cash accounts.*