Looking for a specific section? Use the table of contents below to jump straight to it!

• Adding Collateral
• General Tab
• Valuation Tab
• 3rd Party Liens Tab
• Liquidation Tab
• Lien Recording Tab
• Custom Fields Tab
• Real Estate Tab
• Environmental Tab
• Equipment Tab
• Business Assets Tab
• The Other Tab

 

The Collateral menu has several sub menu options, but it is also a menu option itself. Click on the word Collateral to reach the Collateral page.

 

You will see a record for the project property address already in the table. If you have entered the project property address on the overview page of the loan, it will flow to this page and you should see it already listed. Every loan is required to have a single project property address.

Adding Collateral:

To add additional Collateral:

• Click Add.

 

• In the Add Collateral pop-up that appears, select the Collateral Type (site administrators can add additional collateral type if needed).
• Add a description, try and be as descriptive as possible.
• Click Save.

 

When you click save, the pop-up will disappear and the page will load a variety of tabs in which you can enter information regarding the collateral you have added. We will cover these in a moment.

 

• To add or edit information regarding Collateral, click on the Collateral in the table. This will load the tabs you see when creating Collateral (as seen above). Now you can fill out or edit information as needed.

 

Above the tabs, all Collateral types allow you to change the Collateral Type using the type dropdown menu. You can indicate if this collateral is the project property by checking the project property box. There can only be one project property per loan, if you check this box and there already is a project property assigned, the project property will change to reflect your choice.

 

The tabs available differ based on the Collateral Type.

Tabs available for all types:

General: The General tab allows you to enter the address of the property or the location of the collateral. It also contains a conditions section where you can indicate if the collateral requires Real Estate Hazard Insurance, Flood Insurance, Personal Property Hazard Insurance, or Marine Insurance. Click save after entering your information.

 

Valuation: The Valuation tab allows you to record information covering the type of valuation performed on the collateral, whether the valuation report was received, the minimum value, insurable value, spaces to enter amounts for a 1^st valuation and a 2^nd valuation and date fields for said valuations. You can also enter who prepared the valuation.

The SBA submission section contains the Submitted and Approved date fields, and a dropdown menu to choose the Valuation Submission Type.

You can include the address of the valuation if it is different than the address listed on the general tab of the collateral.

You can enter a narrative in the narrative area.

You can Generate a checklist for submitting the appraisal from this page. Click the Generate Checklist for Submitting approval button. The document will generate.

Remember to click save after making any changes.

 

3^rd Party Liens: This tab is where you will record third party liens.

• Click Add. The Add 3^rd party lien pop-up will appear.

• Fill in the Lien Holder, the Lien position and any other information you need to.
• Click Save. The third party lien will appear in the table.

 

• Click the name of the lien holder to make edits to the information entered for the lien. The Edit lien holder pop-up will appear. It looks exactly the same as the add lien pop-up above. Make your edits and click save.

 

• Click the X button next to the lien in the table to delete it. A confirmation message will appear. Click delete to confirm you want to delete the entry.

The sum of all lien amounts input in the 3^rd party liens tab will flow in to the liquidation tab for the purpose of calculating the LTV

Liquidation: The liquidation tab pulls data from the valuation tab. Click the Calculate Estimated Value button to calculate the estimated value of liquidation.

 

Lien Recording: The Lien recording tab has two views. One for Real Estate Collateral and one for all other kinds of collateral.

               Lien Recording Tab – Real Estate: 

• This is where you will record the Title Vesting, Lien Position, Lien Amount, Recording/Filing Date, Recording Data, Trustee Name and the Security Instrument.
• The Senior Lender Section allows you to enter any recording data, and the trustee.
• The Additional Information section allows you to enter conditions for release, to mark whether they were released or not, enter a date for a projected/actual release and a space to enter comments.
• The title vesting, lien position, lien amount and security instrument fields are required by ETRAN. Make sure to fill them in if you are an SBA lender.
• Remember to click save after entering data.

             Lien Recording Tab – all other collateral types:

•  You can add the Lien position, Debtor information and lien amount here.
• There is an Additional information section where you can include data on a projected /actual release date, a box to indicate if it was released, and a comments section.
• You can indicate a UCC filing by checking the UCC filing check box. This will result in some additional sections appearing. The state section and the county section both appear. In them you can record the type of UCC filing, recording data from the filing, the filing date, the expiration date, along with options to add ticklers to remind you when the filings are due again. For more information on ticklers, please click here!

 

Custom Fields: The custom fields tab will only appear if your site administrator has added custom fields to the Collateral standard object. If there are no custom fields assigned to the section, the tab will not appear. For more information on how site administrators can create and curate custom fields, please click here.

Tabs specific to Real Estate Collateral:

Real Estate Tab: The Real Estate tab allows you to capture specific information covering real estate collateral.

It contains fields for you to enter: the type of building, the collateral property type, parcel number, year the building was built, lot size, unit size, building size, how much is occupied by the company and a description field.

There is a tenants section where you can add records of tenants and their leases at the property.

• Click Add. The Add Tenant pop-up will appear.
• Enter a name for the Tenant, fill in any remaining information you wish to fill in and click save.

 

• To edit a record for a tenant, click the name of the tenant and make your edits in the pop-up. The pop-up is the same pop-up you see when adding the tenant. 

• Click save.
• To delete a record click the X next to the name of the record you want to delete. Confirm in the pop up that you want to delete the record by clicking the delete button.

 

There is a section titled: Optional Real Estate Conditions where you can select specific conditions that apply to this collateral.

You can note the evidence of title and priority of the lien. 

Environmental Tab: The environmental tab lets you record information covering the environmental report for the collateral. 

• You can indicate if the report was received by checking the report received check box.
• The tab allows you to record the Submission type of the report, who prepared it, the date it was submitted to the SBA, the date it was approved by the SBA, the NAICS code and proposed future use of the property. You can also indicate if there is an operational maintenance plan required, or if the Environmental investigation has NOT yet been approved by the SBA, and MUST be approved prior to disbursement by checking their respective boxes.
• There is an address section to note the address if it is different from the collateral address, a project section to select what the project involves, an explanation text box and a concerns text box.
• The Environmental Investigation Reports Sections allows you to note whether the following items were received, and the date they were received on:
  • Environmental Questionnaire
  • Records Search and Risk Assessment (RSRA)
  • Transactional Screening Analysis
  • Phase I Assessment
  • Phase II Assessment
  • Other, if you select other, please use the Describe text box to describe the other report.
• You can generate a checklist for submitting environmental information at the bottom of the page.
• Remember to click save.

Tabs specific to Equipment Collateral:

Equipment: This tab allows you to enter a description and comments regarding the equipment collateral. You can indicate if the equipment is new by checking the New Equipment check box. You can record who the equipment was purchased from, and other details that may be relevant like model numbers, security years, shares of the equipment if relevant and a security date for the equipment. 

 

Tabs specific to Business Assets Collateral:

Business Assets Tab:

This tab allows you to enter a description and comments regarding the business asset collateral. You can record who the asset was purchased from, and other details that may be relevant like model numbers, security years, shares of the asset if relevant and a security date.

 

Tabs specific to Other Collateral:

The Other Tab: This tab allows you to enter a description and comments regarding the Other collateral type you have entered. You can record who the collateral was purchased from, and other details that may be relevant like model numbers, security years, shares if relevant and a security date.