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May 24th, 2023
Announcements
VENTURES
ETRAN Terms and Conditions - 504 Lenders
The 504 Wizard has been retired and is no longer accepted by SBA. You can generate the Terms and Conditions (F/K/A Loan Authorization) in ETRAN or you can generate it directly from Ventures. View the KB article and video labeled Generating the Etran SBA 504 Terms and Conditions from Ventures to learn more!
- Did you miss the live webinar training on 5/11 showing you how to generate the document directly in Ventures? Watch it HERE
- View the attached Guidehouse and Ventures Terms & Conditions workbooks for guidance on merged data fields, FAQ's, and Best Practices.
- Important - The TPL Name on the Authorization will merge based on the Location ID and may be different than what you have input in Ventures. The SBA Etran team has received some other inquiries from CDCs on this exact situation and they are working with SBA to confirm the exact guidance on how to handle bank divisions for the ETRAN Loan Auth. SLPC does understand the limitations and should not screen it out if it is clear on why the Loan Auth is showing the difference. As far as closing is concerned, there may be some questions from CDC Attorneys and/or District Counsels if there is a discrepancy, so further clarification on that is something they are working on.
- Questions? Use the Contact Support widget located on the upper right portion of Ventures.
Ventures SLPC Credit Memo - CDC Contact Update
At the request of SBA and NADCO, Ventures has updated the CDC Contact on the Ventures SLPC Credit Memo to merge the contact information for the Credit Analyst listed within Partner Contacts instead of the Loan Officer contact information.
Location ID and Lender ID - SBA Lenders
We have updated the Location ID and Lender ID help text hyperlink to the new page HERE. Previously, it was a broken link. You can also lookup the Location ID and Lender ID in CAFS.
Credit Memo Personal Discretionary Income (PDI) Updates
Thank you for your patience as VLT corrects issues, and updates what gets merged to rows, when generating the credit memo from your Financial Statements. You can review the mapping of rows from PFS to the Credit Memo PDI section in KB article Credit Memo Personal Discretionary Income (PDI) section mapping to PFS. The following changes have been made:
- Income Section
- The “Other (see Comments)” income amount is the summation of row types “IRA, Pensions & Annuities” + “Social Security Benefits” + “Installment Sale Income (ongoing)” + “Income - Non Related Entities” + “Other Income” + Any additional “Income” group type rows added in PFS with our custom F/S feature. Previously, this row included an offset of the Rental income.
- Total Income will equal Total Income + [Rental Income + Int + Dep] in the PFS
- Expense Section
- The “Debt - Other existing obligations” expense amount is the summation of “Debt Service” Group Type rows, except “Personal Debt: Residence” row and “Proposed New Debt” row types.
- The “Other (see Comments)” expense amount is the summation of “Expense” Group Type rows, except Living Expenses Row Type.
PPP Lenders
Some updates have been made to your PPP-related loan type records. When entering a PPP 2021 and/or PPP loan type record, you will now land on the General Menu > General tab of the record like all other records instead of landing on the QuickStart page. We have created a new menu called PPP, and have added the Application sub menu (F/K/A QuickStart) and Forgiveness sub menu under it.
APPLY
Lender can "Preview" their application form(s)
Do you want to preview your application draft version, or preview your current published version without having to fill out a test application? We have a “Preview” function in the Site Settings > Application Settings menu that shows you a general view, from the perspective of the applicant, that includes the questions you are asking, help text, section titles, etc of the form version you are in. Please review our KB Article Previewing Forms in Apply and watch our great video HERE on how to use this feature.
Withdraw/Decline Internal Reason enhancement
The “Withdraw” and “Decline” Internal Reason dialogue box, which appears when you are changing the status of an application to Withdrawn or Declined, has increased the maximum characters allowed to 1,000 characters. Previously, it would only allow a maximum of 250 characters.
PAYMENTS
New System Reports added
Three new system reports have been added to your site and are highlighted below. Read more about what the reports provide in our past release note HERE.
