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Home > Release Notes > Release Notes - 2023-06-07
Release Notes - 2023-06-07
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June 7th, 2023



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
  • Important - The TPL Name on the Terms & Conditions 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 Terms & Conditions 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.  


New 504 Debt Refi reduced balances - memo to file form

  • Ventures has published the 504 Debt Refi reduced balances - memo to file form as a system document Per NADCO Techbrief 08-23: 504 debt refi programs – Best Practice for Documenting Reduced Balances. 
  • The user must manually type in the data for the Original column of the Project Costs grid.
  • This is an internal memo form that must remain with the file, be signed, and placed on Letterhead.
  • The form is available for 504 loan types > Closing phase


New Validation for Primary Operating Company (POC)

Every record in Ventures must have a Primary Operating Company (POC) assigned within Entities. In order to reduce the number of errors users have encountered when generating documents and forms, Ventures has updated the way an Entity record will behave when it is assigned as a POC .

What's changing:

  • The Primary Operating Company (POC) entity record will no longer have an "X" located to the left of the Entity name.
  • The Primary Operating Company (POC) entity record will no longer be able to be removed from the Entities grid by clicking the X icon (X icon is hidden for Primary OC).
  • The Primary Operating Company (POC) entity record will have the Association field locked and users will not be able to change the association for the Primary Operating Company (POC) entity record.
  • To assign a different Primary Operating Company (POC) the user will first need to either Add a new entity and assign it as the Primary Operating Company (POC) or;
  • Assign an existing entity to be the new Primary Operating Company (POC).   Important Note:  Upon re-assigning a new Primary Operating Company (POC) the previous Primary Operating Company (POC) will by default be re-assigned as an Operating Company.  User will manually need to update the Association if it is not an Operating Company.  Servicing: We do not encourage or suggest deleting entities from the entities grid, but rather marking them as inactive if they are no longer associated to the loan.  You may also want to document this change within the Notes area for auditing and record keeping purposes.   You may view the SHORT VIDEO HERE.

Lender Action: 

  • Any existing loans that do not have a Primary Operating Company (POC) will need to manually be updated by the lender.​​​​


504 Loan Calculator Update

We have implemented two enhancements to the 504 Loan calculator to enhance the precision of our 7(a) comparison. This calculator can be found at the bottom of Ventures > Tools section.

  • Unlocked cells in Bank 7(a) Loan/Combination section to allow users to edit the injection and loan amount

  • Updated 7(a) Guaranty Fee calculation to be based off guaranteed balance instead of entire loan balance


New Validation when deleting an Entity that has a Financial Statement saved in Loan Analysis

  • Ventures has implemented a new validation feature that displays the message, "Unable to delete because this data is used by other data in the system," when a user attempts to delete an Entity that has a linked financial statement. To ensure proper data management, users are now required to delete the associated company financial statement first before being able to delete the Entity from the Entities menu. Previously, users were able to delete the entity, which would automatically remove the associated company financial statement.


ETRAN "Borrower Contribution 1 already exists" error fixed

  • Ventures has resolved the issue that resulted in an ETRAN error when submitting an application with a different Injection Type than the one initially sent to ETRAN prior to submission. As a result, you can now include the updated Injection Type during the submission process without the need to access ETRAN separately to update the information before submitting your application.






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