In Episode 14 of Unconventional, host Bill Tessar sits down with Nema Daghbandan, CEO of Lightning Docs and Partner at Fortra Law, to explore how a lawyer-turned-innovator took one of the most traditional industries, private lending, and transformed it with automation, accessibility, and a bit of unconventional grit.
Nema’s story is proof that sometimes, the best career paths aren’t planned, they’re built through persistence, curiosity, and a willingness to reimagine the rules.
From Following His Brother to Finding His Purpose
Nema didn’t set out to revolutionize an industry. In fact, he only went to law school because his older brother did. After graduating from the University of Miami in 2010 during the depths of the financial crisis, his first job offer at a prestigious law firm was rescinded overnight.
What could have been a career-ending setback became the first of many turning points. By chance, Nema landed a summer position where he was introduced to the world of private lending. A space that, at the time, looked more like the Wild West than a legitimate legal niche.
“I remember thinking, are these people even real businesses?” he laughs. “But I was hooked. It was entrepreneurial, fast-moving, and full of opportunity.”
A Crash Course in Compliance and Creativity
Through those early years, Nema learned the private lending world from every angle, compliance, litigation, and corporate securities. He quickly realized that understanding the full picture gave him a unique advantage: he could speak both legalese and lender.
By 2013, as the market recovered from the crash, he and his small team made a defining choice to specialize solely in private lending rather than pursue larger institutional clients. That decision laid the groundwork for what would become a powerhouse legal and technology ecosystem serving lenders nationwide.
“Everyone else was chasing banks,” Nema recalls. “We doubled down on the private lenders. We wanted to be their experts.”
The Birth of Lightning Docs
As his firm grew, one challenge became clear: traditional legal work wasn’t built for speed. Writing loan documents manually took too long and cost too much, especially in a flat-fee model.
So Nema and his team built a solution for themselves: an automated document platform that could generate accurate, state-compliant loan docs in minutes.
They called it Lightning Docs, initially to be used just an internal efficiency tool, not a standalone product. But as clients saw what it could do, the vision expanded.
“Lightning Docs is basically TurboTax for private lending,” Nema explains. “You plug in your deal details—borrower, loan amount, property type—and the system builds the perfect set of documents based on the logic of every jurisdiction.”
Today, Lightning Docs is the industry standard, used by some of the largest private lenders in the nation, including CV3 Financial. What began as a risk-management idea became a technological revolution.
Building a Brand Where All Roads Lead Back
When Nema first went up for partnership, one question changed his trajectory: Does the market know you’re an expert?
That question sparked a philosophy that now defines his companies: make sure all roads lead back to you. Through conferences, webinars, and community involvement, Nema built a brand rooted in visibility and trust.
“We didn’t just want clients,” he says. “We wanted to be the first phone call.”
That strategy gave rise to company conferences, which became the premier gathering for private lenders nationwide. It also set the stage for Lightning Docs to become a household name in the business-purpose lending space. Synonymous with speed, compliance, and credibility.
A New Chapter
In 2024, Nema and his team made another bold move, rebranding their legal practice as Fortra Law. The new name represents both strength and unity: a “fort” built by a collective of experts committed to the same mission.
“Just like a fortress, we are strong” Nema describes, “stronger together, building something bigger than ourselves.”
Under the Fortra Law umbrella, Nema and his team continue to serve private lenders across the country, host industry-defining events, and expand the capabilities of Lightning Docs—including new AI integrations set to roll out soon.
Redefining What It Means to Lead
Through every twist and turn, Nema has stayed grounded in two principles: serve others well and move fast without breaking trust.
He’s not just changing how private lenders create documents, he’s changing how they think about innovation, regulation, and collaboration.
As Bill puts it: “You can be the best at what you do, but if the market doesn’t know it—are you really the best?”
Nema’s answer has been to make sure the market knows, feels, and experiences excellence at every touchpoint.
Dare to Be Unconventional
Nema’s journey reminds us that true innovation doesn’t come from chasing trends, it comes from mastering your craft, listening to your clients, and daring to build something better.
From law school to Lightning Docs, from compliance to creativity, Nema has proven that the unconventional path often leads to extraordinary impact.
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Dare to be Unconventional.