OCTOBER 11TH, 2023
ANNOUNCEMENTS

 

VENTURES

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NEW - Saving Custom Grid Preferences

We are happy to announce a long-time requested feature has been added to Ventures! Users can now save their setting preferences on several main grids throughout their site, so when coming back to the grid at another time, the saved preferences will remain. Previously, when the user left the menu and came back, grids would revert back to the system default settings. Users will be able to save column sorting, column show/hide visibility, and pagination values. This enhancement does not include filter settings or column ordering at this time. For more information on how to set and save your grid preferences, please read KB article Saving your Grid Preferences. Grids with preference saving: 

• Loans menu 
• Lead menu
• Tasks menu
• Contacts menu
• Companies menu
• Payments menu > Loans

 

 

Document Storage Enhancements

You may have noticed a few changing in our Documents menu! The Documents menu has been given a few upgrades:

• Documents menu now has two submenus, Generate and Store. Previously it was one page and had two tabs for Generate and Store.
• The buttons in the Store menu have changed to be an icon. Previously, the buttons had a word and an icon. 
• The preview dialog can now be changed to fullscreen. There is a new “Enlarge” button on the preview dialog when you click on the Thumbnail image. Clicking "Enlarge" will give the user more ability to zoom the image without having to scroll as much. Clicking the button again will restore the dialog to its original size.

 

504 and 7(a) SBA Fees updated to new FY 2024 rates

Ventures has updated the FY2024 Fees for 7a and 504 loans effective October 1st, 2023. No action is necessary on your part.

• All 7A Loan records in Prospect and Open status have been updated with the FY2024 fees pursuant to SBA Notice 5000-848801. Additionally, any 7A loans with approval dates on or after October 1, 2023 will have the new fees. 
• All 504 Loan records in Prospect and Open status have been updated with the FY2024 fees pursuant to 5000-849342. Additionally, any 504 loans with approval dates on or after October 1, 2023 will have the new fees. 

 

 

NEW  Portfolio Status Dates

We added two new dates to the Portfolio Status Dates section. Lenders will now have these dates available to them on all loan types after the loan has reached Funded status. Lenders that were using custom fields to account for either of these dates may want to consider using these new dates instead. 

• Restructured represents the latest date when the loan was modified or restructured to avoid a loan default.
• Refinanced represents the date when the loan was paid off through a refinance.

 

 

NEW  Transaction Level Reporting (TLR) Capability

We added support for five new TLR fields.

• Added a Refinanced Date to the Portfolio Status Dates section. 
• Added a Restructured Date to the Portfolio Status Dates section. 
• We now map the Sold Date based on Associated Transaction dates related to Sales or Repurchased / SBA Repurchased dates.
• Added a Low-Income Target Population (LITP) End Users dropdown to the Target Populations section
• Added a checkbox to indicate whether the POC is a CDFI that is certified by the CDFI Fund.
   

All of these are now mapped to the TLR export and are no longer required to be handled manually. 

 

 

 

Gateway

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MUST READ - URL Site Domains updated to gatewayportal.com

All client application portals' domain name have changed from apply-plus.com to gatewayportal.com as of 10/11/2023. Any previously generated URL links and email invite links with the old domain will be automatically redirected to your new site through 1/31/2024. This means applicants will still have access to your portal using their existing links from now through January 2024.

ACTION ITEMS:

1. Updating Website Links: If you have links to your application portal on your website, they will require updating to the new domain. Your IT or Web Site Administrator can assist with this task. 
2. Updating browser bookmarks: If you have a saved bookmark of the portal on your web browser, you will need to update it. Your IT or Web Site Administrator can assist with this task.
3. Regenerating Product/Referral Links: If you provide links to the portal with product and/or referral assignment to applicants, you will need to regenerate the links to include the new domain. For a refresher on how to generate a portal link, please refer to KB Article Apply+ Custom URL link to assign product and/or user to application. 
4. Updating Email Notification Templates: If you have incorporated any portal links into your email templates found in Site Settings > Email Templates menu, it will be necessary to revise these templates with the new URL link. For a refresher on how to edit email templates, please refer to KB Article Apply+ Auto-Generated Emails. 

View button added for Applicants to enter application(s)

An additional "View" button was added to the Applicant's summary landing page. If the applicant clicks on the "View" button, they will be redirected to that application's summary page. Several lenders reported issues with applicants starting new applications because they did not know they can enter the application by clicking on the hyperlinked application number on the left hand side. This solution should resolve that issue. 

Source System field will indicate Gateway and includes name of application portal site

Due to the rebrand initiative, the Source System field found in the General menu > General Tab > Loan Information section will now display Gateway instead of Apply+ and show the site subdomain the application is from.