October 26th, 2022

Announcements

Ventures+

 

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• We have updated our Size Standards search feature and our SBA Size Standards excel download to bring in the latest version (effective 10/1/2022) in the Loan Analysis > Size Standards menu.

 

 

• In order to help our 7A Lenders accurately complete SBA Form 1919, Ventures has added an additional page IF there are Affiliates associated with a project. In order for the new Affiliates page to generate with the 1919 and be pre-populated with Affiliate name(s), Individual Name(s), Title(s) (Job Title), and Ownership Percentage(s), one of the following would need to be marked YES in the record:

  • Question 6 in Entities → SBA 1919 tab is YES

  • Question 1 in Entities → Company Contact SBA 1919 is YES

  • Question 6 in Entities →Entity Owner 1919 is YES

 

• We are continuing to add more ETRAN fields to support the new Authorization and make life easier for our 504 Lenders. Newly added fields can be found in real estate collateral records when the collateral type is mapped to SBA Collateral Type Lease. 

  • "Lease Beyond Loan Term" and "Notice to Terminate Lease in" fields are located in the Real Estate tab and will map to their respective input fields in ETRAN. 

  • In ETRAN, Name of Lessor input field will be pre-populated with the Title Vesting of collateral record in Ventures. Name of the Lessee input field will be pre-populated with the Primary Operating Company name.

 

   

 

Apply+

 

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Exciting news for Apply+ lenders! Several new mapping fields have been added to the system so that you can push more data from the application to Ventures fields! Please review KB article Apply+ Updating mapping Identifiers in an application for instructions on how to update your current mapping fields. There is a video recording of the process in the KB article that would also be helpful to review. Newly added identifiers listed below.

 

Company Related

 

• NAICS Code

• Entities > POC record

• Identifier: CompanyNAICS

 

• Business Involved in Pending Lawsuit (Yes/No response format)

• Entities > POC record > Credit & Identification Tab

• Identifier: CompanyPendingLawsuit

 

• Business Involved in Bankruptcy/Insolvency (Yes/No response format)

• Entities > POC record > Credit & Identification Tab

• Identifier: CompanyBankruptcy

 

• Business Entity Description Narrative

• Entities > POC record > Narratives Tab

• Identifier: CompanyEntityDescriptionNarrative

 

• Business Management Narrative

• Entities > POC record > Narratives Tab

• Identifier: CompanyBusinessManagementNarrative

 

• County of project property address (If user types in valid county)

• General menu > General Tab > Project Property Address

• Identifier: ProjectCounty

 

• County of business address (If user types in valid county)

• POC vcard record > Address

• Identifier: BusinessCounty

 

Contact Related

 

• Rank at Discharge

• Contact > Background >Military section

• Identifier: ContactRankDischarge

 

• Contact Middle Name

• Contact vcard > Middle field

• Identifier: ContactMiddleName

 

• County of owner address (If user types in valid county)

• Contact > Background > Current Home Address section

• Identifier: ContactCounty

 

Loan Related 

 

• Located in LMI community (Yes/No response format)

• 7A: Eligibility > General > Policy Tab >Located in a Low-to-Moderate Income (LMI) Community

• 504/Commercial: Eligibility > General > Public Policy Tab > Low to Moderate Income Debenture (LMI)

• Identifier: ProjectLMICommunity

 

• Located in HubZone (Yes/No response format)

• 7A: Eligibility > General > Policy Tab > Located in a HUBZone

• 504/Commercial: Eligibility > General > Public Policy Tab > Located in a HUBZone

• Identifier: ProjectHubZone

 

• Located in Opportunity Zone (Yes/No response format)

• 7A: Eligibility > General > Policy Tab > Located in an Opportunity Zone

• 504/Commercial: Eligibility > General > Public Policy Tab > Opportunity Zone

• Identifier: ProjectOpportunityZone

 

• Located in a Promise Zone* (Yes/No response format)

• 7A: Eligibility > General > Policy Tab > Located in a Promise Zone

• Identifier: ProjectPromiseZone

 

• Located in Empowerment Zone or Enterprise Community* (Yes/No response format)

• 7A: Eligibility > General > Policy Tab > Located in Empowerment Zone or Enterprise Community

• Identifier: ProjectEmpowermentZone

 

• Is more than 50 percent of the workforce considered low-income or resides in a LMI census tract?* (Yes/No response format)

• 7A: Eligibility > General > Policy Tab > More than 50 percent of the business’s workforce is low-income or resides in a LMI census tract

• Identifier: ProjectWorkforceLMI

 

*Only available in 7A loan category

 

 

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A message from the Ventures Support team:

Thank you to those that have already adjusted and continue to use the Contact Support Widget located on the upper right portion of Ventures!  For faster response time please continue to use the Contact Support Widget to submit any Ventures inquiries, this will ensure that your inquiries are not blocked by SPAM, that they land in the appropriate queue, and that all Ventures Support Staff has access to these inquiries and can provide a response accordingly.

 

Have new staff, need a Ventures refresher? Access the Foundational Webinar Series recorded sessions.

 

The Contact Support widget also allows you to input keywords into the Subject Line and provides a list of helpful KB Articles that you may access and/or may answer your queries.