LoanPacket vs manual Excel spreading
Excel is where most brokers start. It is free, familiar and flexible, which is exactly why packages built in it vary from deal to deal and from broker to broker. The comparison below is about the economics of a commission-only business, not about the software.
| Dimension | Manual Excel spreading | LoanPacket |
|---|---|---|
| Time per 3-year spread | 6 to 10 hours of re-typing | Under 90 seconds of extraction, then review |
| Source citations | None; the lender takes your word | Form, schedule and line on every figure |
| Formula integrity | Breaks silently when rows are inserted | Versioned, tested calculations |
| Global cash flow | Rebuilt per deal, method varies | SOP 50 10 7.1 method, consistent |
| SBA forms | Hand-typed into PDFs | Autofilled from the same data |
| Add-back evidence | Separate email attachments | Attached inline with written justification |
| Version control | File names ending in FINAL-v3 | Edit log with diff per lender submission |
| Cost | Free software, 20 hours of broker time | From $149 per deal or $249 per month |
Keep Excel for ad hoc analysis. Package in LoanPacket, where the time saved on a single deal exceeds the annual subscription.
Package your next loan in 15 minutes instead of 3 weeks.
Upload a set of sample tax returns and generate a complete, lender-ready credit memo on your first day.