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Home > Release Notes > Release Notes - 2023-08-16
Release Notes - 2023-08-16
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AUGUST 16TH, 2023




If you are a CA SBLC lender please Contact Support and let us know so that we can enable the feature setting on your site. New Processing Methods are now available in Ventures for CA SBLC Lenders. If you are submitting your loan using your CA-SBLC delegated authority, you will want to use the Processing Method 7(a) Preferred Lenders Program (CA SBLC) and make sure to select the Delegated Authority checkbox.


In Compliance Review (R0): New ETRAN Status and Workflow For 504 and 7(a) loans

SBA will now be performing compliance checks for applications before moving them to Awaiting Documents / In Reviewer 1 / Funded status. The new status is "R0" within a CAFS record, and will show in Ventures as "In Compliance Review". Per the SBA, you should expect the compliance checks to be completed within 2-3 business days.

  • If you need to check your application status or update the Ventures application status to match CAFS, use the Check Status feature. Due to security reasons, this cannot be automated by Ventures and will need to be a manual check by a user. Review KB article ETRAN: Why is the status within CAFS different from what's in Ventures? for instructions.
  • If you get a Withdrawn status, do not disable your application and create a new one until you review your compliance check result(s). Please follow the steps outlined below:
  1. Access the application in CAFS
  2. From the left side menu select Application Info (be patient) upper right will tell you "Loading"
  3. Scroll down to Compliance Check section and view the information.  
  4. Within the Gray box last column labeled Star Comments there is a 'i' symbol that you can click on to view the Compliance Checks.
  5. If the Compliance Checks are only a matter of providing documentation then you can upload supporting documentation in the CAFS record using the Compliance Support Document (1275) upload bucket (Ventures will be support the compliance check upload in the future). Assuming this Compliance error is related to affiliation and assuming you have discussed it in the Credit Memo, please upload the pages from the CM explaining the affiliation. 
  6. Email the proper SBA processing center at either 7a[email protected] or [email protected] with the Application #, screenshot of the Compliance error, and alerting them that documents have been uploaded to the Compliance Support Documents bucket for their review.
  7. If your response requires data changes then you will need to make your data changes in Ventures, then disable the withdrawn application in Ventures, and add a new application.  This will require your status to go back into "In Compliance Review" which could take up to 48 hours to update.


Custom Fields now supported in Web Templates

When Site Admin users add custom fields to their site, both a report field and web template merge field will be automatically created. Previously, only report fields were automatically created. Please review the instructions and watch the video on how to add your custom field merge fields to your custom documents in KB article Custom Fields: Web Templates! Note- Company and Contact Objects' custom fields will be supported in a future release.



All Loan Source Merge Fields now available in Credit Memos templates

Lenders can now add Merge Fields and Sub Template Fields from the Loan Source Type into their Credit Memo Data Source Type templates. This includes custom data fields! In the -Search Merge Fields- box of the credit memo template, simply type in the name of the merge field or sub template you want to add and click on it to add it to the template. The "Credit Memo Bookmark" section in the -Search Merge Fields- dropdown lists the current preformatted content blocks used in Credit Memos. 



New Financing Source Narrative Added

We have added a Financing Sources Narrative box directly below the Financing grid in the Financing Menu > Financing tab. This narrative is available as a report field and as a merge field in Web Templates. The narrative will be printed in the existing Credit Memo bookmark "Financing" if data is present. If the narrative is left blank, nothing will be printed to the credit memo.



Universal Purchase Package (UPP) SBA Documents Added

 “Universal Purchase Package (UPP) - Accessible” and “Universal Purchase Package (UPP)" SBA documents have been added to the Ventures system for Lenders to use. You can find the documents within the Documents menu of a 7(a) loan > Application phase > Search UPP. The SBA updated the old Purchase Package (also known as the 10-Tab or Purchase Demand Kit) and renamed it to Universal Purchase Package (UPP) to align with the requirements in the updated SOP 50 57 3, improve the customer experience for its lending partners, and facilitate lenders’ submission of guaranty purchase requests. This one document is to be used to request that the SBA honor its guarantee on all 7(a) loan types regardless of size and program type. The LGPC 10-Tab Template document has been removed from Ventures. 



New Eligible Business Expenses Under Debt Refinancing Merge Field

A new merge field that is grouped in the Financing Project Cost group that is labeled "Eligible Business Expenses under Debt Refinancing Amount". It will be the sum of all "Eligible Business Expenses under Debt Refinancing" Project Costs. SBA Form 1506 Servicing Agent Agreement (11-2022)” Web Template has been updated so that this cost is now included in row 8 - "Other Expenses"  


7(a) Terms and Conditions Replacing Authorization

As of 8/1/2023 the 7(a) Authorization Wizard is no longer supported by SBA .  A button for generating the new 7(a) Terms and Conditions has been enabled on 7(a) applications when submitting a loan to the SBA through Ventures. Please review our KB Article with video instructions on the new process for Generating the ETRAN SBA 7(a) Terms and Conditions from Ventures.


ETRAN Validations Update

Ventures has adjusted the minimum percentage of ownership required to submit an application to ETRAN from 100% to 60%. Ventures will also now only be sending owners/principals with ownership greater than 0.00% to ETRAN. Both these adjustments were based off SBA changes effective 8/1/2023.



Note Date

The Closing Note Date is now a required field for Funded status loans.  It was renamed to "Note Date" and is found on the Loan | General page in the Important Dates section. This field represents the date when the loan agreement was fully executed (signed by all required parties). The new field has been added to all existing loans in Funded status and prepopulated with the Funded Date, if there was no Closing Note Date value in the Loan Log (read below for more info). You can read more about this change in our KB article here.



Site Admins: Project Types menu has been renamed to Purpose Types

The Administration > Reference > Loan > Project Types menu has been renamed to Purpose Types. This makes the menu name align with the existing field name it correlates to in a record. There is no functional change to this menu.




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